Back

LatinNews Daily - 07 September 2018

In brief: Venezuela

Venezuela: Venezuela’s President Nicolás Maduro has signed a decree creating of a new technical commission tasked with restructuring the country’s state-owned oil firm, Pdvsa, and all of its subsidiaries. According to the decree published in the official gazette, the five-member committee will be “transitory” and has until 31 December to come up with an organisational restructuring plan for Pdvsa “to achieve greater efficiency in obtaining its goals and objectives”. The committee has also been tasked with coming up with a new financial plan for the ailing firm. The creation of the committee comes after last year Maduro called for a major overhaul of Pdvsa so as to stamp out corruption at the firm, which had undermined its finances, and boost flagging production levels, which have been in decline due to chronic under investment.

End of preview - This article contains approximately 133 words.

Subscribers: Log in now to read the full article

Not a Subscriber?

Choose from one of the following options

LatinNews
Intelligence Research Ltd.
167-169 Great Portland Street,
5th floor,
London, W1W 5PF - UK
Phone : +44 (0) 203 695 2790
Contact
You may contact us via our online contact form
Copyright © 2022 Intelligence Research Ltd. All rights reserved.