Venezuela's New Hydrocarbons Law Mandates Local Participation, Targets Gas Output by 2027

Venezuelan Vice President Delcy Rodríguez announced that the new Hydrocarbons Law will boost the economy through increased oil production, mandating obligatory incorporation of the national business sector and self-generated electricity for operations. The law also projects liquefied gas production in Zulia by 2027. This signals a state-driven push to revive the energy sector, though implementation and investment remain uncertain.