Venezuela issues draft regulations for the implementation of the petroleum law to enterprises.

The Venezuelan government is currently releasing a draft of new regulations to complement the Petroleum Law, specifying various specific provisions related to the technical operation, fiscal system, and regulatory control of oil and gas companies. The draft sets standards for private enterprises operating within areas previously monopolized by the Venezuelan national oil company, while also repealing the country's 1943 Petroleum Law and related regulations from 1969. The regulations cover topics such as domestic oil allocation, joint oil field development, and greenhouse gas impacts, and explicitly require all oil and gas projects to implement enhanced primary and secondary oil recovery technologies.