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Law on Hydrocarbons will transform Venezuela into the world’s leading oil producer










The
president of the National Assembly (AN), Parliamentarian
Jorge
Rodríguez, emphasized that the approval in the second discussion of
the Bill for the Partial Reform of the Organic Hydrocarbons Law was
concreted
while
absolutely maintaining the principles of sovereignty and independence
established in the National Constitution:





The
main objective of this law is for us to stop saying that we have the
largest reserves to
start
saying that we are the main oil producers on this planet,” he
emphasized.





At
the conclusion of the ordinary session and in statements to the
media, he noted that there
was respect
for the ownership the
Republic
of Venezuela has
on
its oil fields and natural resources.





He
highlighted that these are mechanisms that have proven to be very
successful, “such as the production contracts, called CPPs, which
are mechanisms that allowed oil production to close in December of
last year at 1.2 million barrels of oil.”





Likewise,
he
stated that it
was achieved the approval by unanimity of the
aforementioned law, which “will allow for a
much
more competitive contracting of national or foreign companies for the
exploitation of this resource found in the world’s largest reserves.”





This
is the framework that will allow for the definitive take-off of oil
production and the prosperity of the Venezuelan people,” he
asserted.



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