Venezuela published the rules that open oil from wellhead to petrol pump. Its first full oil regulation since 1943 does not mention the state company once.
Energy
Key Facts
—The document. Venezuela published a 29-page regulation in its official gazette on Thursday, implementing the oil-law reform passed in January.
—The omission. It does not mention Petróleos de Venezuela, the state company that has controlled the industry for decades, at any point.
—The reach. Private firms may now operate from the wellhead to the petrol pump, including refining, marketing and fuel distribution.
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