ABSTRACT
Inspection and control shall be primarily exercised over all operating, financial and commercial planning and practices of the companies; over the labour systems and practices of the same, as well as on the costs of the petroleum industry. The functions involving authorizations shall be primarily exercised in connexion with contracts with sales and interchange of crude oil and derivatives, with the remittance of funds and payments abroad, with investment budgets, and with contracts relating to the transfer of technology. The rights in favour of the National Treasury, as well as those of the workers against the concession-holders, which are subject to judicial debate, are excepted. Except as provided for in Article 23 of this law, the State shall not assume any obligation whatsoever for liabilities the concession-holders may have incurred with third parties either within the country or abroad.
