LEGAL ALERT – KEY ITEMS OF THE VENEZUELA HYDROCARBONS LAW AMENDMENT

On January 29, 2026, Venezuela ́s National Assembly sanctioned a material amendment to the Hydrocarbons Law (Ley de Reforma de la Ley Orgánica de los Hidrocarburos) (hereinafter the “Amendment”) which had been in place since 20061 (the “LOH 2006”). The Amendment covers new and innovative means of private investor participation in oil upstream activities (identified under the LOH as “actividades primarias”), provides for stable legal ground for the use of certain investment vehicles being adopted in recent years under emergency laws,
allows for a reconfiguration of the fiscal package and repeals an array of laws, taxes, contributions and Government payments in place.

Assuming other relevant circumstances take place and Venezuela ́s competent authorities make proper use of the powers afforded under the Amendment, investors, service providers and participants in the sector may well benefit from larger flexibility and certainty.

You can find all the information, here: KEY ITEMS OF THE VENEZUELA HYDROCARBONS LAW AMENDMENT (1)