[Chevron](https://www.cnbc.com/quotes/CVX/) CEO Mike Wirth said Friday that Venezuela has taken positive steps to protect investment by private oil companies since the Trump administration captured former President Nicolás Maduro.
Wirth said Chevron is still reviewing the legislation. The CEO said security of contracts, commercial stability and regulatory predictability are key to attract investment in Venezuela.
“We see Venezuela taking steps in a positive direction to address those issues, which will encourage investment, not only from a company like ours, but from others that I think are also considering the opportunities there,” Wirth told CNBC’s [“Squawk on the Street”](https://www.cnbc.com/squawk-on-the-street/) in an interview.
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[Chevron](https://www.cnbc.com/quotes/CVX/) CEO Mike Wirth said Friday that Venezuela has taken positive steps to protect investment by private oil companies since the Trump administration captured former President Nicolás Maduro.
Venezuela on Thursday passed [reforms to its hydrocarbon law](https://www.nbcnews.com/world/south-america/venezuela-acting-president-signs-oil-industry-overhaul-rcna256657) that ease state control of the oil industry and grants private producers more autonomy.
Wirth said Chevron is still reviewing the legislation. The CEO said security of contracts, commercial stability and regulatory predictability are key to attract investment in Venezuela.
“We see Venezuela taking steps in a positive direction to address those issues, which will encourage investment, not only from a company like ours, but from others that I think are also considering the opportunities there,” Wirth told CNBC’s [“Squawk on the Street”](https://www.cnbc.com/squawk-on-the-street/) in an interview.
Read more: [https://cnb.cx/46fESOb](https://cnb.cx/46fESOb)