Venezuela opens up oil industry to private investment, in line with US demands

Venezuela’s legislature on Thursday adopted a bill that throws its oil industry open to private investors, in line with US demands following the toppling of leader Nicolas Maduro. Lawmakers in the South American country adopted reforms to a hydrocarbons bill that roll back decades of tight state control over foreign investment in the sector. To lure private capital into an industry reeling from years of US sanctions, the bill also makes the royalties regime more flexible. Acting President Delcy...