Skip to content
Subscriber Only

Venezuela’s Maduro Shakes Up PDVSA, Declares Oil ‘Emergency’

  • Economy Vice President El Aissami will lead new oil commission
  • ‘Venezuela has to be an oil power,’ Maduro says on state TV
Venezuela Debt Talks Gear Up With Red Carpets, Assault Rifles
Photographer: Carlos Becerra/Bloomberg
Updated on

Venezuela’s President Nicolas Maduro declared an “energy emergency” as he announced a commission to revamp state oil company Petroleos de Venezuela SA, redoubling efforts to shore up the nation’s crumbling oil industry.

Economy Vice President Tareck El Aissami will lead the commission, which will focus on boosting crude production, Maduro said. El Aissami, who is already an external director at PDVSA, will be joined by former Energy Minister Asdrubal Chavez as commission vice president, Defense Minister Vladimir Padrino, armed forces Strategic Operational Commander Remigio Ceballos and others.