Venezuela’s National Assembly President Jorge Rodríguez has defended the partial reform of the Organic Hydrocarbons Law, saying it aims to increase oil production while enforcing zero tolerance for corruption. Speaking at the Puerto La Cruz Refinery, Rodríguez praised oil workers for sustaining the industry despite U.S. sanctions and what he described as a severe economic blockade. He said Venezuela’s crude output has rebounded from historic lows to around 1.2 million barrels per day. The reform introduces Productive Participation Contracts, allowing private and foreign companies to invest at their own risk as part of efforts to revive and expand the energy sector.
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