Venezuela has a solid and transparent legal framework for hydrocarbons (gaseous and non-gaseous), which promotes the participation of both state and private capital, domestic as well as international, to guarantee Venezuelan energy supply to world markets.
Outlined below are the legal instruments that govern the Venezuelan oil industry, which are always framed within the principles established by the Bolivarian Constitution with regard to energy matters.
HYDROCARBONS AND PETROCHEMISTRY
Laws, Regulations, Resolutions And Other Norms Related To Hydrocarbons And Petroquemistry
- Organic Law that reserves to the State goods and services related to primary hydrocarbon activities
- Decree Law No. 5200 On the Migration of the Association Agreements in the Orinoco Oil Belt and the Exploration at Risk and Shared Profits Agreements into Joint Ventures
Hydrocarbons Organic Law
Official Gazette No. 37323 – November 13, 2001
Reserves in Favor of State Companies the Export and Import of Hydrocarbon Byproducts
Decree No.1648. Official Gazette – April 24, 2002
Resolution No. 335 Hydrocarbons Border Trade
No. 37853 – January 8, 2004
Resolution No. 236 Export of Fuels
No. 35816 – October 31, 1995
Creation of the Interministerial Commission for the Fixation of Royalties
Decree No. 2335 – No. 37734 – July 17, 2003
Resolution No. 197 that Establishes the General Consumer Tax Break for Taxpayers Dedicated to Refining or Manufacturing of Hydrocarbons
No. 37753 – August 14, 2003
Resolution No. 336 SAFEC fuel retail sales.
No. 37853 – December 9, 2004
Resolution 36690 to Set Shipping Costs.
No. 38091 – December 21, 2004
Resolution 168 and 212 to Delimit New Geographic Areas of PDVSA Petróleo, S.A
No.37952 – June 3, 2004 / No. 37996 – August 6, 2004
Gaseous Hydrocarbons Organic Law
No. 36793 – September 23, 1999 Gaseous Hydrocarbons Organic Law Regulations Extraordinary Official Gazette
No. 5471 – June 5, 2000
Resolution to delegate to ENAGAS the preliminary investigation of administrative records of LOHG infraction cases
No. 37505 – August 14, 2002
Resolution No. 216 Setting of the Fiscal Value of Associated Natural Gas
No. 37645 – March 7, 2003
Resolution for the price setting of Methane Gas at Dispatch Centers
Resolution for the Setting of Freight Rates and Methane Gas Distribution
Resolution No. 165 for LPG Price Setting
No. 36227 – June 13, 1997
Resolution No. 197 Natural Gas for Vehicles
No. 37982 – July 19, 2004
Stimulus Law for the Development of Petrochemicals, Coal Chemistry and Similar Activities No. 36537 – November 11, 1998
Norms for the Ground Transportation of Flammable Hydrocarbons and Fuels Resolution 141 – Official Gazette No. 36450 – May 11, 1998/
Resolutions 357 and 359 – Official Gazette No.38083 – December 9, 2004 / Resolution 36690 – Official Gazette No. 38091 – December 21, 2004
Appointment of Eulogio Del Pino as President of Petróleos de Venezuela, S.A. (PDVSA)
Official Gazatte No.40488, Presidential Decree No.1214
Laws, Regulations, Resolutions and other Norms of General Application
- Constitution of the Bolivarian Republic of Venezuela
- Civil Code of Venezuela
- Code of Commerce
- Central Bank of Venezuela Act No. 37296 – October 3, 2001
- General Law of Banks and Other Financial Institutions. No. 5555 – November 13, 2001
- Law for the Protection and Promotion of Investment No. 37489 – July 22, 2002
- Law for the Promotion of Private Investment in Concessions No. 5555 – November 13, 2001
- Commercial Arbitration Act No 36430 – April 7, 1998
- Law of Maritime Commerce No. 5551 – November 9, 2001
- Law of Maritime Commerce Revival No. 37323 – November 13, 2001
- Law of Merchant Marine and Related Activities No. 37321 – November 9, 2001
- General Law of Ports No. 37331- November 23, 2001
- Coastal Areas Act No. 37319 – November 7, 2001
- Electric Service Act No. 5568 – December 31, 2001
- General Regulations of the Electric Service Act No. 5510 – December 14, 2001
- Organic Law of Telecommunications No. 36970 – June 12, 2000
Public Tender Law No. 5556 – November 13, 2001
Rules for the Implementation of Public Tenders
Organic Law of the Office of the National Comptroller General
Public Financing Law
Public Administration Organic Law No. 37305 – October 17, 2001
Anti-Corruption Law No. 5637 – April 7, 2003
Law of Science, Technology and Innovation No. 37291 – September 26, 2001
Organic Law of the Office of the Attorney General No. 5554 – November 13, 2001
Organic Tax Code No. 37305 – October 17, 2001
Income Tax Law No. 5566 – December 28, 001
Regulations of the Income Tax Lawxx
Value Added Tax Law No. 37480 – July 9, 2002
Regulations of the Value Added Tax Law No. 5363 – July 12, 1999
Organic Customs Act No. 5353 – June 17, 1999
Regulations of the Organic Customs Act No. 5129 – December 30, 1996
Bank Debit Tax Law No. 37648 – March 14, 2003
Environment Organic Law No. 32004 – June 16, 1976
Environment Criminal Law No. 4358 – January 3, 1992
Forest and Water Act No. 1004 – January 26, 1996
Coastal Areas Act No. 37319 – November 7, 2001