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Venezuela Constituent Assembly seeks to woo private oil investment

Fernanda Nunes | Published on the wed Sep 12, 2018 4:35 pm | 847 Views

CARACAS (Reuters) - An overhaul of Venezuela’s constitution being prepared by the pro-government Constituent Assembly will likely include changes intended to attract private investment in the country’s oil fields, according to two assembly members.

Production by the OPEC nation’s oil industry is at a 60-year low, leaving President Nicolas Maduro’s government strapped for cash as it grapples with hyperinflation and a fifth year of economic contraction.

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