President Nicolás Maduro said the so-called Petro would be anchored by 5.3Bb of crude from the onshore Ayacucho field as well as gold and mining deposits.
The ANC has also approved a new mining bill designed to unlock investments in the Orinoco belt, according to the official AVN news service.
A local executive director from the Corporate Leaders Group for Climate Change tells BNamericas how Chile can use carbon pricing and other tools to reduce the negative impact from climate change.
The state-run Brazilian holding company will have until early February to set the conditions for the sell-off of its distribution units.
Those leading the polls are against the privatization of the country's state-run power holding company Eletrobras, but what about Petrobras?
The asset manager is offloading its 28% share in the Chilean transmission company.