COMUNICACIONES / NOTICIAS
Caracas.- People’s Minister of Petroleum and President of Petróleos de Venezuela, S.A. (PDVSA), Manuel Quevedo, said on Sunday’s televised broadcast of José Vicente Today program, that greater market diversification and research aimed at improving production processes are PDVSA’s goals for 2018 as he addressed issues related to the energy sector.
He said an extraordinary plan is underway for the deep transformation of PDVSA, based on guidelines announced by President of the Republic, Nicolás Maduro: increase oil production by one million barrels; strengthen the national refining system, the petrochemical industry and the domestic market; encourage exports, and strengthen the fight against corruption.
PDVSA has increased the export of crude oil and by-products to Asia which represents 49% of total exports as it is one the fastest growing markets in recent years, with agreements with strategic partners such as China and Russia.
The United States is still an important market -31% of crude oil exports- despite Washington’s persistent attacks against Caracas. "We do not understand how their own government attacks the Venezuelan oil industry, a reliable supplier”, he said.
The Caribbean (10%), Europe (5%) and other markets (5%) are still on the agenda, but PDVSA will continue to broaden exports to new destinations. "We have the right to expand in the world market”.
He went on to say that this year Venezuela assumes the alternate presidency of the Organization of Petroleum Exporting Countries (OPEC) together with the United Arab Emirates, in addition to being a member of the Joint OPEC-Non OPEC Ministerial Monitoring Committee (JMMC), which will meet this month in Oman to monitor the voluntary production adjustment for an equilibrium of the oil price. He believes that JMMC has been successful.
Research to improve production
Quevedo said that President Maduro has made a significant effort so that the oil workers take on a leading and participatory role in PDVSA’s strategic and operational planning.
PDVSA workers, with the support of the Board of Directors, have conducted research aimed at improving production in areas such as the Hugo Chávez, where the shipment of extra heavy oil has improved which supports diluent import substitution such as naphtha.
"Together with Honorary President Alí Rodríguez Araque, we have set up ongoing meetings with the Production Committees. We are listening and assessing financial viability because technically, the investigations are brilliant”, he said.
Late last year, PDVSA signed a strategic partnership with Russian company Rosneft for offshore gas exploitation in northern Sucre state. With this project "we ensure revenues of more than 8 billion dollars for the next 20 years, in addition to a significant impact on the labor market. The world trusts Venezuela and knows the potential we have with the largest oil reservoir in the world”, he said.
2017 results: triumphs in the midst of adversity
In the view of Quevedo, in 2017 PDVSA experienced difficulties as a result of the US government’s financial blockade in addition to attacks against the national refining system, specifically the Paraguaná Refining Center (CRP), and polyducts in the Hugo Chávez Orinoco Oil Belt.
However, 2017 was also a year of many victories, as the defeat of the undercover production stoppage and the triumph over the attempted sabotage against fuel distribution by right wing elements operating undercover in the oil industry.
"President Maduro had to deal with it by dismissing and appointing PDVSA's top management because they were promoting this undercover stoppage. So much so that we reached almost 1,500,000 barrels of oil per day, our lowest production point since the oil sabotage of 2002”, he said.
But PDVSA has come out stronger: “This blockade driven by the foreign and native right is not going to stop us. We’ll keep moving forward”.
The fight against corruption
Minister Quevedo also addressed the fight against corruption in PDVSA, which is necessary in order to achieve goals.
"We made ourselves available to the Office of the National Comptroller General and requested their support with an audit of all of PDVSA and its subsidiaries. Also, we gave the Chief Prosecutor's Office full access to the company and its documents, to establish the responsibilities of those who might be involved in any kind of fraud against the property of our people. The National Constituent Assembly has also supported us with advisors who actively participate in this fight against corruption”, he said.
