Venezuela's new constitution gives rise to new legal issues on oil, gas investment

04/10/2000
Whatever broader concerns may exist regarding the constitution of the Bolivarian Republic of Venezuela, investors in the Venezuelan oil and gas business may feel agreeably surprised.In our view, the constitution approved by the people on Dec. 15, 1999, is somewhat more favorable to private oil and gas investors than the constitution of 1961.On the other hand, the new constitution gives rise to its own new issues of legal interpretation.Hydrocarbon ownershipArticle 12 of the new Venezuelan constitution states that fields "of minerals and hydrocarbons" existing in the national territory, in the territorial sea, in the exclusive economic zone, and on the continental shelf belong to the repub...
read-story

Why Register?

Non-subscribers can only view whitepapers by providing name, home and email address, phone number and other information and comment on/rate articles.

Why Subscribe?

Oil & Gas Journal subscribers with login credentials can access these premium features of OGJ Online:

  • Current Issue – an html version of the current week's issue of Oil & Gas Journal.
  • Past Issues – An Electronic OGJ Archive. A keyword-searchable archive of all issues of Oil & Gas Journal dating back to 1990; also searchable by issue date.
  • Market Journal – a weekly round-up of the oil and gas markets, with observations from leading analysts.
  • Editor's Perspective – a short article of insight and opinion by the Editor of Oil & Gas Journal.
  • OGJ Industry Stats – quick access to current industry statistics from Oil & Gas Journal.
  • OGJ Survey Downloads - quick access to exclusive reports from Oil & Gas Journal.

 

Subscriber Help or Subscribe

Oil & Gas Journal Subscribers: Have your subscription number (from the mailing label on the cover of your Oil & Gas Journal) and e-mail address ready to set up your online account through Customer Service Assistant.

If you're not an Oil & Gas Journal subscriber, start a subscription and gain access to the subscriber areas of OGJ Online now.

Stay Connected