Tuesday, November 28, 2017

New Venezuela Oil Boss to Give Military More PDVSA Posts


A general appointed at the weekend to run Venezuela's energy sector will name more military officers to senior management posts at state oil company PDVSA as part of a shakeup the government says is aimed at fighting corruption, two company sources told Reuters on Monday. In a surprise move, unpopular leftist President Nicolas Maduro on Sunday tapped Major General Manuel Quevedo to lead PDVSA and the Oil Ministry, giving the already powerful military control of the OPEC nation's dominant industry. Besides the corruption scandals, Quevedo will have to tackle an attempted debt restructuring, within the context of a deep recession and debilitating U.S. sanctions. More…

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