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Search terms: Energy & Natural Resources, Venezuela

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New regulations provide for compensation for generators' and distributors' increased costs, which should allow them to invest in their services and operate more efficiently. The medium to long-term strategy is likely to comprise the sale of state owned generation and distribution assets in order to create incentives for new investment in the electricity sector.

Including: Energy; Oil; Gas; Mining.

The draft Hydrocarbons Law has been published and comments are invited. The draft creates a tax for oil-related activities of 10% of the commercial value of hydrocarbon derivatives used for internal consumption.

A new decree stipulates the timeframe for handling applications for mining concessions, the control and fiscal inspection of mining activities, and the procedure for obtaining mining rights for certain minerals.

The regulations of the Decree-Law of the Electricity Service were enacted in December 2000. The law includes plans by the Ministry of Energy and Mines for the expansion and development of the electricity sector.

Including: Energy; Oil and Gas; Mining; Taxes; Energy; Regulatory framework

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