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Venezuela Expanding Military Influence Over Oil and Mining

  • President Maduro creates new military oil and mining company
  • Camimpeg to conduct oil services and mining activities
Venezuelan President Nicolas Maduro walks during a military parade in Caracas on Dec. 12, 2015.

Venezuelan President Nicolas Maduro walks during a military parade in Caracas on Dec. 12, 2015.

Photographer: Juan Barreto/AFP via Getty Images
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Venezuela President Nicolas Maduro moved to increase the military’s involvement in the country’s oil and mining industries with the creation of a new state company that will report to the Defense Ministry.

The military company was authorized to participate in a range of oil services and mining activities including the maintenance of wells and drilling rigs, transport and the commercialization of chemicals, according the official gazette dated Feb. 10 and distributed Friday. It didn’t specify how it would work with state driller Petroleos de Venezuela SA. The Oil Ministry declined to comment.