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Will Venezuela's oil sector reform attract investors?

dw.com·Tobias Käufer·about 1 month ago
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In the past few days, Spanish airline Iberia has resumed landing in Caracas, and American Airlines has also announced plans to return to Venezuela . Paraguay , meanwhile, is building support to reverse the suspension of Venezuela's membership in the South American trade bloc Mercosur . "This is one of the initiatives we'd like to advance during Paraguay's pro-tempore presidency," Marco Riquelme, Paraguay's new minister of industry and commerce, said at a press conference in late March. Should the initiative succeed, this would also impact the European Union , which recently closed a wide-ranging free trade agreement with Mercosur that's slated to go into effect on a provisional basis on May 1. Not even four months after then-president  Nicolas Maduro was removed from power in a controversial military operation by the US, Venezuela has seen economic conditions shift dramatically . Oil industry a decisive factor Venezuela is the most oil-rich country in the world based on proven oil reserves.…

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