Venezuelan government proposes “a new beginning” in its oil policy

The Venezuelan Minister of Energy and Petroleum, Tareck El Aissami, informed tonight that his country’s government is proposing “a new beginning” in its oil policy, taking measures aimed at generating added value throughout the Venezuelan energy industry.

“We have to move towards a new industry and towards a new beginning, today is an opportune day to state that we need an industry that generates added value in its entire chain”, the Minister declared before the state television during an activity with workers’ leaders of Petróleos de Venezuela (PDVSA).

He assured that it is a decision of the national Government “to change the matrix; instead of continuing to be an eminently crude oil exporting country, we have to turn Venezuela into an energy power and transform all the crude oil into fuels, into energy sources for the peoples of the world”.

“It is a great challenge, and I want to say as Minister of Petroleum that today the material conditions are in place and we have the high consciousness of all our workers: we can advance towards a powerful company in its productive capacities”, emphasized El Aissami.

Likewise, the Venezuelan Minister explained that work would be done to strengthen the national petrochemical industry through PDVSA’s petrochemical subsidiary, Pequiven.

He assured that the new objective of the entire national oil policy would be to turn the country into an exporter of petrochemical and refined products to generate significant income for the nation, which is currently required for national macroeconomic stabilization.

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