The President of Venezuela, Nicolás Maduro, appointed Oil Minister Tareck El Aissami, a senior official sanctioned by the United States, and as president of the state PDVSA to Asdrúbal Chávez, a relative of the late former socialist president Hugo Chávez, according to decrees released this Monday in the Official Gazette.
El Aissami, vice president for the economic area, “is empowered” for the “restructuring and reorganization” of the ministry, the document indicates, at a time when crude oil prices are collapsing due to falling demand amid the coronavirus pandemic, and Venezuelan production continues to decline.
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The new oil minister is among the dozens of Maduro collaborators who have been sanctioned by the Casa Blanca, who pressures to try to displace the socialist ruler from power.
The Aissami is among the officials who were formally accused of “narcoterrorism” by the US Justice on March 26, including Maduro, with millionaire rewards offered for information leading to his capture. The United States offered 15 million for Maduro and 10 for El Aissami.
Until now, General Manuel Quevedo shared the positions of oil minister and president of the Venezuelan state company.
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For his part, Asdrúbal Chávez was appointed president of the state-owned Petróleos de
Venezuela (PDVSA). The new head of the company – cousin of former President Chávez (1999-2013) – led Citgo, the company’s subsidiary in the United States, a position he held from 2017 until Washington revoked his visa in 2018.
The general Until now, Manuel Quevedo shared the positions of oil minister and president of the Venezuelan state company. It was named in November 2017 by Maduro.
The last friday, the price of a barrel of Venezuelan crude fell below $ 10, settling at $ 9.9, a decline to two-decade lows from 1998 levels, when it averaged $ 9.38.
This fall occurs at times when PDVSA’s production stands at just over 700,000 barrels per day, as reported by the Maduro government to the Organization of Petroleum Exporting Countries (OPEC). It was above three million barrels a day in 2008.
AFP
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