Venezuela pushes for oil industry reforms amid U.S. tanker seizures

Venezuelan acting president Delcy Rodriguez on Thursday called on the legislature to approve an oil industry reform plan to attract foreign investment and boost the country's economic recovery, amid news that U.S. forces had seized a sixth Venezuela-linked oil tanker the same day.

In her annual report to the legislature on behalf of the administrative body, Rodriguez stated that the proposed reforms would optimize the operating environment of Venezuela's oil industry and strengthen its capacity for international cooperation. 

She noted that the South American nation's oil production hit 1.2 million barrels in December last year, and revenue from oil exports would be primarily allocated to supporting public health system construction, driving economic development and advancing infrastructure projects.

"Venezuela is currently at an important turning point, and the government will explore more pragmatic and diversified foreign exchange channels," Rodriguez said, adding that the country should handle relations with all parties, including the United States, on the basis of mutual respect.

Meanwhile, the U.S. Southern Command announced via X on Thursday that U.S. forces had seized another Venezuela-linked oil tanker that morning, following the fifth such seizure last week. "In another pre-dawn action, Marines and Sailors from Joint Task Force Southern Spear, in support of the Department of Homeland Security, launched from USS Gerald R. Ford (CVN 78) and apprehended Motor/Tanker Veronica without incident," the command said in a statement.

"The only oil leaving Venezuela will be oil that is coordinated properly and lawfully," the command emphasized, noting that the Trump administration will continue cracking down on sanctioned vessels in the Caribbean. 

The Wall Street Journal reported, citing shipping analytics provider Kpler, that the crackdown has significantly impacted Venezuela's oil exports, with crude loadings dropping to roughly half of normal levels this month.

Kpler added that the only ships loading crude at Venezuela's ports are those bound for the United States and vessels transporting oil to domestic refineries. 

Last week, U.S. Energy Secretary Chris Wright stated that the United States will not only market stored oil from Venezuela but also indefinitely control the sales of the country's oil output.

(With input from Xinhua)