Maduro taps major general to lead Venezuela's deteriorating oil industry

Industry analysts and sources said the surprise appointment of Manuel Quevedo, a former housing minister with no known energy experience, was a bad omen for the country’s already deteriorated oil industry. Quevedo takes over from two industry veterans to become one of the most powerful players in the country, which is home to the world’s largest crude reserves. He will have to tackle corruption scandals and an attempted debt restructuring, within the context of a deep recession and debilitating U.S. sanctions. “The time for a new oil revolution has come,” leftist Maduro said in his televised Sunday address, urging Quevedo to purge PDVSA of corruption. More…