STORY: Venezuela's acting President Delcy Rodriguez signed into law a comprehensive reform of the country's main oil legislation on Thursday (January 29) after she said she received a phone call from U.S. President Donald Trump announcing the lifting of restrictions on the nation's commercial airspace.

The National Assembly approved sweeping changes to the hydrocarbons law that reduce taxes, expand private producer autonomy, and enable asset transfers and service outsourcing.

Rodriguez announced during the signing ceremony that Trump and Secretary of State Marco Rubio informed her that airlines and investors would be able to return to Venezuela as part of ongoing discussions between the two governments.

The changes are expected to boost much-needed increases in oil and gas production and foreign investment following Trump's proposed $100 billion reconstruction plan for the industry.

Rodriguez also revealed that Venezuela would export its first-ever shipment of natural gas in the coming hours, with a vessel already positioned in the country. Following the reform's approval, the Trump administration eased sanctions on Venezuela's energy industry through a general license authorizing transactions related to Venezuelan oil exports, according to the U.S. Treasury Department.

The accelerated reform comes after 20 years of strict nationalization and asset expropriation that previously belonged to foreign companies, including U.S. giants Exxon Mobil and ConocoPhillips.

DESCRIPCIÓN DE IMÁGENES

VIDEO SHOWS: VENEZUELA'S ACTING PRESIDENT DELCY RODRIGUEZ SIGNING HYDROCARBONS LAW REFORM / SOUNDBITES FROM RODRIGUEZ

RESENDING WITH COMPLETE SCRIPT

SHOWS: CARACAS, VENEZUELA (JANUARY 29, 2026) (REUTERS - Access all)

1. VARIOUS OF VENEZUELA'S ACTING PRESIDENT, DELCY RODRIGUEZ, ARRIVING ON STAGE AND GREETING PEOPLE

2. NATIONAL ASSEMBLY PRESIDENT, JORGE RODRIGUEZ, HANDING THE APPROVED HYDROCARBONS LAW TO VENEZUELA'S ACTING PRESIDENT, DELCY RODRIGUEZ

3. RODRIGUEZ DURING HER SPEECH

4. (SOUNDBITE) (Spanish) VENEZUELA'S ACTING PRESIDENT, DELCY RODRIGUEZ, SAYING:

"I want to inform you that today I received a call from United States President Donald Trump and his Secretary of State Marco Rubio, where they informed me that within the framework of the work agenda that we have discussed and talked about, we are taking important steps. We are talking about lifting restrictions on Venezuela's commercial airspace so that all airlines that need to come can come, and investors that need to come can come."

5. RODRIGUEZ DURING HER SPEECH

6. (SOUNDBITE) (Spanish) VENEZUELA'S ACTING PRESIDENT, DELCY RODRIGUEZ, SAYING:

"In the coming hours you're going to see a video that will also make us feel, will make us feel very proud, and it will be our first export of the first gas molecule in Venezuela's history. The ship is already in Venezuela and we will see it depart in the coming hours, and I will share that video with our people."

7. RODRIGUEZ DURING HER SPEECH

8. (SOUNDBITE) (Spanish) VENEZUELA'S ACTING PRESIDENT, DELCY RODRIGUEZ, SAYING:

"In this law is President Nicolas Maduro's vision for the future, because there are those who think we pulled this law out of nowhere—no, we had already studied this law, its reform, together with President Maduro. I feel moved to be able to tell him from Caracas, his birthplace: President Maduro, we are delivering for you, we are delivering for the first combatant (Cilia Flores), and we are delivering for the people of Venezuela."

9. RODRIGUEZ DURING HER SPEECH

10. RODRIGUEZ SIGNING THE HYDROCARBONS LAW

11. VARIOUS OF VENEZUELA'S ACTING PRESIDENT, DELCY RODRIGUEZ, AND NATIONAL ASSEMBLY PRESIDENT, JORGE RODRIGUEZ, GREETING PEOPLE AT THE END OF THE EVENT