Venezuelan President Maduro appoints Minister of Oil and Gas
On November 26, Venezuelan President Nicolás Maduro appointed General Manuel Quevedo as Minister of Petroleum and President of the national oil corporation PDVSA, replacing Mr. Eulogio del Pino and Mr. Nelson Martinez.
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General Manuel Quevedo, new Minister of Petroleum and President of Venezuela's National Oil Corporation. (Source: AVN) |
Mr Maduro announced Mr Quevedo’s appointment on national television, pledging to “completely restructure” PDVSA. Oil is Venezuela’s main economic sector, accounting for 96% of the country’s foreign exchange earnings.
The information was released a few days after the Venezuelan government announced that it had discovered a large embezzlement ring in a PSVSA branch in the US. Before appointing Mr. Quevedo as Minister of Housing from August 2015.
Meanwhile, Mr. Del Pino and Mr. Martinez have only taken office as Minister of Oil and Chairman of PDVSA since the end of August this year.
President Maduro also announced plans to increase oil and gas production, which is currently only at 1.9 million barrels per day. Previously, in 2016, Venezuela's oil and gas production was at 2.27 million barrels per day, up to 3.2 million barrels per day in 2008./.
According to Vietnam+
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