Venezuela expects $1.4 billion investment in oil production sharing contracts, Interim President says
Venezuela expects up to $1.4 billion in new investment this year through government-backed oil production sharing contracts, up sharply from last year, interim President Delcy Rodriguez said. The push comes as officials debate reforms to the country’s main oil law to formally include these contracts.
January 27, 2026
Julia Symmes-Cobb/Reuters
FILE PHOTO: A view of the installations at the Puerto La Cruz oil refinery of Venezuelan state oil company PDVSA, as the National Assembly this week approved in an initial vote a reform sent by Venezuela’s interim President Delcy Rodriguez to overhaul the OPEC country’s oil industry by amending former President Hugo Chavez’s landmark oil law, in Puerto La Cruz, Venezuela, January 23, 2026.
Samir Aponte/Reuters
Venezuela's interim President Delcy Rodriguez said on Monday the country expects about $1.4 billion in investment this year in projects under oil production sharing contracts promoted by the government, compared with some $900 million last year.
Rodriguez spoke to oil executives, lawyers and lawmakers at state company PDVSA's Caracas headquarters during the discussion of a proposed reform of the country's main oil law, which would incorporate the output sharing contracts.
-Julia Symmes-Cobb/Reuters
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