Ripe is turned in the search for international investors to revive the oil industry

Ripe is turned in the search for international investors to revive the oil industry

 

 

The Government of Nicolás, aims to increase investments in the oil sector in an attempt to revive a market in ruins, controlled today by the state company, PDVSA. Venezuelaaims to double productionup to 800,000 barrels a day with the arrival of international contractors, mainly in allied countries, the chavismo. The measure, articulated in a law designed tocircumvent US sanctionsrepresents an easing of the sector inédita in a closed country for foreign investment.

 

 

The purpose of the Government is looking for alternatives to Petróleos de Venezuela after decades of corruption and mismanagement. I will do through a rule, called Antibloqueo Act, with the chasingtinkering around the country's economic fabric. However, the Venezuela's isolation on the international board is also a insurmountable barrier to do transparent business with the majority of countries. A sample of this is the network led by the Alex Saab Colombian entrepreneur, alleged figurehead of Ripe, who used companies in Mexico, Russia or Arab Emirates to distribute the Caribbean country's oil and to evade sanctions, according to research published by THE BLACK andArmando.info

 

 

 

" The vetoes and the lack of information of the law are a problem for large Western companies, visible, displayed in their countries, obliged to report on its steps. The fear of sanctions is all an impediment, " says a top executive of the sector, which prefers not identify.

 

Traditionally one of the world's big exporters of oil, Venezuela came to produce 3, 5 and a half million bpd of oil for several decades. The ubiquitous corruption, indebtedness, the precarización of salaries and the emigration of personnel of Petróleos de Venezuela have reduced production to 400,000 barrels. Today, PDVSA can not monitor or protect the local oil business but should the Government is aware of it.

 

The shift from chavismo in search of capital has a brain.Tarek The Aissami, economic vice presidentOne of the pieces of current Chavez Minister power of Oil. In Chávez Asdrúbal, new president of PDVSA, a leader bolivariano linked to the industry, is assigned to have stopped the freefall of the production of recent years.

 

Recently Mature issued the official target to long-term, domestic production of oil 1, 4 million bpd. However, that goal, according to experts as the oil economist of Central University of Venezuela, Quiroz Rafael, " is impossible to accomplish. "

 

Sources connected to the oil business are more likely that the Government bolivariano over to conquer the will of some Venezuelan private operators, international productoras of varying provenance and medium-sized contractors to revitalize light wells on the eastern coast of Lake Maracaibo in Zulia state, as well asmarginal fields of Gaza in the Orinoco. Mature can rely on the contest in allied countries, such as Turkey, Iran, India, and perhaps Russia and China, despite the huge of country debt with both. If this effort is crowned with success, which according to experts is possible, the country could double in the short term their production to the 800,000 barrels.

 

The interest of great oil multinationals, particularly the West, to the new offers of chavismo has been moderate right. Miraflores makes new promises, offers votes of correction and insists on talking to marks of preferred exploitation. Some of these companies, demonizadas repeatedly as " imperialist vampires, " had already had to deal first with a arrogant government, threatening up to oil prices sky-high of the first decade of the century. However, some of these offers, according to spokesmen consulted that called for keeping their name in the reserve, " are tardy. "

 

 

 

Biden and sanctions

 

The private oil companies operating in Venezuela suffer particularly from the tax high imposed by the authorities, the difficulties these years to repatriate their assets and the debt he has with them the Venezuelan State. In the Venezuelan oil private sector the end of the foreign-exchange control, which lasted 17 years, was received with a huge amount of relief, and is widespread the conclusion that the officers sobrerregulaciones hurt seriously the industry.

 

" If Mature to offer the private capital with a modicum of security, andJoe Biden's government bend with sanctionsthe country could arrive to one million barrels relatively quickly, " says the Orlando Ochoa economist. " I don't think the United States to withdraw the sanctions for now. It is necessary, moreover, that the joint enterprises are reactiven, maintain the capacity to deal with the wells. Lots of international oil companies remain in Venezuela, but working halfway. Venezuela is currently about 30 million cumulative barrels in its stores that have not been able to be placed in the market. "

NORTH KOREA : HOW IS CHANGING THE COUNTRY

 

The Republican future without Trump