The legal framework for Venezuela’s oil and gas sector is undergoing major changes following the political developments of January 2026. In a new article, Andres E. Bazó from our member firm Rasco Klock Miami examines the recent reforms to Venezuela’s Hydrocarbons Law, the lifting of certain U.S. sanctions, and the implications for foreign investment in the country’s energy sector.

The article analyzes:

• Changes to Venezuela’s hydrocarbons taxation system
• New dispute resolution mechanisms, including arbitration and mediation
• OFAC General Licenses authorizing certain oil and gas transactions
• Opportunities and risks for international companies seeking to operate in Venezuela
• The evolving relationship between U.S. oversight and Venezuela’s energy industry

According to the article, the reforms aim to create a more flexible and competitive framework for foreign investors while restructuring how oil revenues are managed and supervised.

We thank Andres for sharing this analysis and insight with the ABL community.

Read the full article here.