Our industry must be reinvented and redesigned in its structure, functioning and focus, and that’s why it must have a new law, made for this very purpose. This law, free of any dogmas, will be the basis for this change. The new bill fits this purpose, having the virtue of being flexible and adaptable enough to serve during the recovery, stabilization and growth periods and as an instrument to deal with the many unknowns that will be encountered along the way. By Carlos Bellorín

It is similar to a proposal presented by Guaido’s allies to oil executives during an industry conference in Houston last year and proposes cutting royalties, allowing private companies to operate fields on their own rather than just in joint ventures with PDVSA, and create an independent regulator to auction off some PDVSA fields, like Mexico’s recent reform. By Luc Cohen. Full text -> Nasdaq