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rerum cognoscere causas
Guaido to open Venezuela oil deals to foreign private companies, his US envoy says
Currently, Venezuela’s socialist government has requirements that Petróleos de Venezuela (PDVSA) keep a controlling stake in any joint ventures with other energy companies.
But Carlos Vecchio, a representative for National Assembly leader Mr Guaido, who has been recognised by the US as the interim leader of Venezuela, told Bloomberg Mr Guaido's government would look to open up the economy to increase oil production.
“The majority of the oil production that we want to increase will be with the private sector,” he said on Monday.
Venezuela under Mr Guaido would honour all “legal” and “financial” debt, Mr Vecchio said, but suggested it may not honour debt agreements signed by the current regime under Nicolas Maduro in which the country pays creditors with oil.
Currently, Venezuela’s socialist government has requirements that Petróleos de Venezuela (PDVSA) keep a controlling stake in any joint ventures with other energy companies.
But Carlos Vecchio, a representative for National Assembly leader Mr Guaido, who has been recognised by the US as the interim leader of Venezuela, told Bloomberg Mr Guaido's government would look to open up the economy to increase oil production.
“The majority of the oil production that we want to increase will be with the private sector,” he said on Monday.
Venezuela under Mr Guaido would honour all “legal” and “financial” debt, Mr Vecchio said, but suggested it may not honour debt agreements signed by the current regime under Nicolas Maduro in which the country pays creditors with oil.
