Venezuela Names New PDVSA Executives After Shakeup

  • New president for JV arm, four vice presidents named
  • Nicolas Maduro declared ‘energy emergency’ last week
A sculpture, depicting an oil derrick in a hand, stands outside of the PDVSA building in Caracas.Photographer: Carlos Becerra/Bloomberg
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Venezuela’s President Nicolas Maduro named new executives at Petroleos de Venezuela SA, a week after declaring an “energy emergency” and appointing a commission to revamp the state oil company.

German Marquez was appointed president of Corporacion Venezolana de Petroleo, a PDVSA affiliate that deals with joint ventures, including those with Chevron Corp., Repsol SA and Rosneft PJSC, according to a statement in the official gazette.