Chavez's Death Raises Few Prospects For Oil Developers

Law360, New York (March 6, 2013, 7:54 PM EST) -- While the death of Venezuela's longtime president Hugo Chavez may open the door to needed reforms for the country's paralyzed oil industry, attorneys say a post-Chavez Venezuela will have to make dramatic changes to its legal and regulatory system to have any hope of luring outside oil developers back into the country.

Chavez, 58, died Tuesday after a long illness. During his 14-year stint as president, he nationalized the oil industry of Venezuela — the world's fifth-largest exporter and the largest exporter in Latin America —...
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