Venezuela to Debate Oil Bill Allowing Private Sales, Arbitration

Venezuela is set to debate a proposal on Thursday that would allow private oil companies to commercialize their own production, pay less in taxes and settle disputes through arbitration, rather...

By Fabiola Zerpa, Andreina Itriago · Bloomberg Markets

Venezuela is set to debate a proposal on Thursday that would allow private oil companies to commercialize their own production, pay less in taxes and settle disputes through arbitration, rather than exclusively in Venezuelan courts, according to a draft bill seen by Bloomberg.