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Financial News: VENEZUELA: Maduro Appoints New Oil Minister And PDVSA

VENEZUELA: Maduro Appoints New Oil Minister And PDVSA Chairman

08/27/2017 - 18:24:00 (RTTNews)

(RTTNews) - The Venezuelan President Nicolás Maduro has announced changes to his cabinet, appointing a new oil minister and a new chairman of the state-owned oil company PDVSA. Eulogio Del Pino was appointed as new Oil Minister, while Nelson Martínez was nominated to lead PDVSA, changing places one with another.

"We have a firm proposition that we have been consulting with the world and will soon be presenting to key leaders within the Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC countries," Maduro said.

Del Pino, who was in charge of PDVSA, will be responsible for "international alliances, to advance at the summit of OPEC and non-OPEC Heads of State for the regulation of oil and gas prices," said the Venezuela President.

Martínez, who was Oil Minister, was designated to "working on import substitution in the Venezuelan oil industry, improving national refining capacity and strengthening alliances with the 40 companies that operate in the Orinoco Belt," according to a statement released by PDVSA.

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