Venezuelan President Nicolas Maduro said on Wednesday he would create a presiden...
CARACAS - Venezuelan President Nicolas Maduro said on Wednesday he would create a presidential commission to restructure the country’s beleaguered oil industry, which will be led by Vice President for the Economy Tareck El Aissami.
Declaring an “energy emergency,” Maduro set a goal for Venezuela to raise crude output to 2 million barrels per day this year, more than double current levels. The grouping will also include Asdrubal Chavez, a cousin of late leftist President Hugo Chavez who was the chief executive of PDVSA’s Houston-based refining subsidiary, Citgo Petroleum Corp, until Venezuela’s opposition wrested control of that company following sanctions last year.
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