Manuel Rueda

Opposition leaders welcomed the bill, but said that many more reforms need to be made to restore democracy in Venezuela.

For NPR News, I'm Manuel Rueda in Caracas.

After the US raid that led to Nicolas Maduro's removal, the socialist government's control of Venezuela's vast oil reserves is changing.

The bill approved on Thursday night will allow foreign companies to run oil wells in Venezuela and sell the nation's oil, provided they pay taxes.

Disputes with the government can now be settled by international arbitration.

Previously, the Venezuelan government had to be the main stakeholder in oil projects, and the National Oil Company was the only entity allowed to sell the nation's crude.

Now, the U.S.

Treasury has e-sanctions on Venezuela, and American companies will be able to purchase and resell Venezuelan oil.

For NPR News, I'm Manuel Rueda in Caracas.

After the U.S.

raid that led to Nicolás Maduro's removal, the socialist government's control of Venezuela's vast oil reserves is changing.

The bill approved on Thursday night will allow foreign companies to run oil wells in Venezuela and sell the nation's oil, provided they pay taxes.

Disputes with the government can now be settled by international arbitration.

Previously, the Venezuelan government had to be the main stakeholder in oil projects, and the National Oil Company was the only entity allowed to sell the nation's crude.

Now, the U.S.

Treasury has e-sanctions on Venezuela, and American companies will be able to purchase and resell Venezuelan oil.

In a military parade, hundreds of soldiers stood in front of acting President Delcy Rodriguez to swear an oath of allegiance.

With your virtues, you will defend our nation," said General Vladimir Padrino, the nation's powerful defense minister.

Venezuelan officials have thrown their support behind Rodríguez following the raid that led to Nicolás Maduro's capture.

But Rodríguez is also in a tough spot.