“Venezuela seeks more investment in energy sector as it reforms hydrocarbon law”

Key points

• Venezuela seeks more international investment in its energy sector.
• Hydrocarbon law reform allows private participation via production and exploration contracts.
• Sanctions remain main obstacle to large-scale investment, says hydrocarbons minister Paula Henao.
• Venezuela signed 80 commercial agreements with international companies over the past year.
• Chevron plans to invest $7 billion to double Venezuelan oil production over seven years.