de Venezuela
de Venezuela


Venezuela aims towards the recovery and expansion of its gas industry

Thursday, 15 September 2022

Caracas.- The President of the Bolivarian Republic of Venezuela, Nicolás Maduro, received at the Miraflores Palace the Secretary General of the Organization of Petroleum Exporting Countries (OPEC), HE Haitham Al Ghais, who is making his first official trip to the country on the occasion of the 62nd anniversary of the international organization.

The head of state made a reflection during his speech, describing as "irrational, unjustified and illogical" the sanctions of the United States and the European Union against Russia’s oil and gas, by considering that they put the world and mainly the so-called Western countries,  "in a crisis dangerous to the social, economic and political stability of these nations".

"It seems that the worst blind person who does not want to see, are the elites of Europe and the United States who insist on sanctions against Russia and create an energy crisis that impacts on economies, trade and world stability. Geopolitical analysts do not understand Europe’s economic suicide to try to kill Russia," he said.

He called on world leaders to be rational in seeking the paths of diplomacy and peace,  to "stabilize the uncertainties and threats of the oil and economic market. Europe is doomed to lose its war against Russia in all economic, energy and geopolitical aspects".

Regarding prices, he said that thanks to "the timely action of OPEC+, oil has not exploded beyond 150 dollars a barrel". President Maduro considered that a fair and balanced price of crude oil should be at 100 dollars or a little more", considering the good balance that exists in supply, production, supply and demand".

"Secretary General, take that message to the other sister governments of OPEC+. We defend the stability of the market and the benefits it has directly and indirectly through the financial route, having an oil at a fair price, a price that has already been assimilated by all the economies of the world," he said.

The President detailed that the oil industry has been recovering with the efforts of the Venezuelan oil workers. "Now we aim at the recovery and expansion of the country’s gas industry". I reiterate that Venezuela is ready and prepared to supply the world oil and gas market in a stable and safe manner.

"Venezuela has a portfolio of more than 50 first-rate gas projects. With the seismic studies done and with all the legal guarantees so that the international investors that come, have all the guarantees to produce gas in our country and to take it also to international markets," he announced.

On the other hand, he reported that there is a very important offer in quality and quantity of fertilizers at an excellent price for the peoples of the world, Colombia, Peru, Dominican Republic, for all those who require fertilizers in the world.


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