PDVSA Audit and Venezuela Oil Sector Opening Needed

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Henri Falcon with Bocaranda. Source: Bocaranda.

(Energy Analytics Institute, Piero Stewart, 7.May.2018) – Venezuela’s opposition presidential candidate Henri Falcon said changes need to be made at state oil company Petróleos de Venezuela, S.A.. He also said an petroleum sector opening was needed to attract investments and boost declining oil production in the OPEC nation.

The transformation of PDVSA would have to begin with an audit, said presidential aspirant Falcon during a televised interview on “The Bocaranda Show” with host and journalist Nelson Bocaranda. Why? “Because PDVSA, which was always the motor of production of resources to support our imports, today has been converted into the cradle of corruption in the country,” said Falcon.

Later, referring to professional workers at PDVSA, as the Caracas-based company is known, Falcon added that a process of professionalism needed to be initialized. He also said that a petroleum opening ‘apertura’ with investments from the Venezuelan state, and also internationally from the private sector was needed so that “the international private sector could be used to give a push to PDVSA to rescue production, which has been declining.”
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