Venezuela Committee Asks VPs To Offer Resignations

(Reuters, 22.Feb.2020) — Members of a committee tasked with overhauling Venezuelan state oil firm Petróleos de Venezuela, S.A., or PDVSA, asked the company’s vice presidents on Friday to offer their resignations, three sources said.

The committee could accept the resignations or maintain those officials in their posts, according to one of the sources.

PDVSA did not respond to a request for comment. The committee could not immediately be reached for comment.

President Nicolas Maduro on Wednesday created the committee, which he said would help recover slumping production, a day after the United States sanctioned a Russian firm that has helped Venezuela export crude despite a broad sanctions campaign.

Members of the commission requested resignations at the company’s production, finances and refining vice presidents and also ordered employees in those divisions to close accounting books immediately, one of the sources said.

Maduro is seeking to turn around years of declining output, which accelerated after Washington opened a sanctions campaign meant to push him from office.

The commission, which is led by Economy Vice President Tareck El Assiami, has not described how it plans to restructure operations.

(Reporting by Marianna Parraga and Deisy Buitrago; Writing by Brian Ellsworth; Editing by Richard Chang)

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