Caracas (OrinocoTribune.com)—On Monday, Venezuelan Acting President Delcy Rodríguez led a meeting within the context of the public consultation of the partial reform of the Organic Hydrocarbons Law, which has received 80 proposals from all sectors of the country. During the meeting, she stated that Venezuela must become an oil production powerhouse, asserting that merely possessing the largest oil reserves on earth is not enough. She also responded firmly to recent statements by US Treasury Secretary Scott Bessent.
Orlando Camacho, Venezuelan deputy and president of the Parliamentary Energy Commission, provided an overview of the preliminary results from the PDVSA headquarters in Caracas. This process follows the National Assembly’s (AN) approval of the draft in its first discussion.
“As stated in the rules of debate regarding the public consultation, I want to inform you that we have received 80 proposals from the hydrocarbons commission today,” Camacho announced to the acting president and representatives from both the public and private energy sectors.
Camacho stated that this law fulfills an obligation to the people and the business sector active in Venezuela, aiming to incorporate values that strengthen legal protections for investors. He also took the opportunity to debunk misinformation in the media regarding the ownership of resources.
“Of course, we have seen some media outlets talking about ‘privatization,’ but no, the company remains exactly the same: the ownership of the deposit belongs to Venezuela, and it is all Venezuelan,” Camacho clarified. “What we are going to incorporate is the proposal that the president brought forward, which is to copy everything that has been done through the Anti-Blockade Law and incorporate it into this new reform of the Organic Hydrocarbons Law.”
Camacho further noted that the country does not need to contribute funds, as resources will come from local and international private investors. He highlighted that these investments will reach remote areas of the country to develop roads, housing, and public services.
Acting president’s key statements
During the meeting, Acting President Rodríguez condemned recent statements made by US Treasury Secretary Bessent, calling them “irrelevant and offensive.”
Bessent had made comments “clarifying” that while the US does not control Venezuela, it controls its policy. He claimed the US would begin lifting sanctions soon and would “order” elections in due time, while vilely suggesting María Corina Machado would be the right choice.
Rodríguez reaffirmed Venezuela’s sovereignty and the principle of self-determination. “The people of Venezuela do not accept orders from any external factor. We have a government, and this government obeys the people,” she stated.
She emphasized the deep connection between the Venezuelan people, their authorities, and their institutions, noting her honor in representing citizens in the current situation. “We have no external factor to obey,” she reiterated.
Regarding personal threats against her, Acting President Rodríguez stated: “We are not afraid, nor are we afraid of respectful relations with the United States, but they must be based on respect—respect for international law, minimum human respect in interpersonal relations, and respect for the dignity and history of Venezuela.”
Returning to the legal reform, she stated that Venezuela must transition from being the country with the largest oil reserves to becoming a large producer.
“Let Venezuela be a giant. Let us be giant oil producers, because it is enough to have the title of having the largest reserves and not have that translate into development for Venezuela. Enough is enough,” she said, adding that the main goal of the reform is to guarantee the economic and social happiness of the Venezuelan people.
“Today, we have an obligation to the country, which is to guarantee the future, to guarantee the social and economic happiness of the Venezuelan people,” the Chavista leader added. “With this reform, we hope to attract significant flows of international investment as well as national investment, because we have always opened the doors to international investment and the national private sector.”
National Assembly president
Before the acting president’s speech, National Assembly President Jorge Rodríguez stated that Venezuela continues to reach emblematic milestones in the oil industry. He noted that the country hit the mark of 1.2 million barrels per day at the end of 2025, a goal he expects will be far exceeded after the passage of the Hydrocarbons Law reform.
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“We will not stop congratulating and thanking the oil industry workers, because amid the greatest difficulties, amid the greatest vicissitudes, we achieved what seemed impossible,” Rodríguez said during the meeting with business leaders on Monday, January 26. “We have closed the year 2025 with 1,200,000 barrels of daily production.”
He further announced that the first article of the reformed Hydrocarbons Law will expand the scope of the energy sector.
“The Hydrocarbons Law, in its first article, broadens the scope to include all products—not only oil and fuels, but all oil derivatives,” he explained.
Special for Orinoco Tribune by staff
OT/JRE/SF
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