HOUSTON - Venezuelan congress head Juan Guaido is preparing a groundbreaking reversal of late President Hugo Chavez’s energy industry nationalization, allowing private companies a bigger role in its oilfields and shrinking state-run PDVSA, according to opposition advisers and a draft seen by Reuters.
“We need to change the current framework ... we need to open up the oil industry to private investment,” said Ricardo Hausmann, Guaido’s delegate to the Inter-American Development Bank. Speaking at an energy conference in Houston, Hausmann said that PDVSA’s role had to be limited due to its operational and financial weakness.
“The Venezuelan oil industry has collapsed after years of arbitrary policies that turned PDVSA and its subsidiaries into political tools serving the Socialist model,” according to the preamble to the law. Once the law is approved, there would be additional legislation to come for regulating specific aspects of the oil business, according to the draft.
The new proposed law would impose a flexible royalty rate with a minimum of 16.67 percent and maximum of 30 percent, depending on oil prices, removing shadow taxes that increase payments. At present, companies including Chevron Corp are compensated through dividends paid by PDVSA.
USpuppet
Interesting. Is it me or has Reuters quietly moved away from the narrative pronouncing Guaido as the accepted president-in-waiting. Venezuela
but he has no power as of yet some should just kill him
Gweedo has no power
Selling his country's resources to the highest bidders - multinational corporations. Freedom and democracy my ass LOOTERS
u dont say
Credibility of US imperial blackmail’ hangs on success of Venezuela policy
He is the US Guaido that was groomed at the GW University to do the dirty work for the US in Venezuela!
Who is Guaido?
LOL - that is why that puppet has been installed by US in the first place... Anyway - he lost it.
Open up, does it mean underselling to americanos?
A puppet possibly trying to please its puppet master.
This man is going to sell out his country. I dont doubt for a second he will do nothing to improve peoples lives. And selling everything off to foreign entities will do nothing than make him rich. There needs to be change. But not from someone like him.
Shocked I am. Who would have thought oil would have anything to do with it. 🙄
Guaido seems more concerned about placating the oil industry and his US Allie than his starving children being starved by his Allies sanctions. He is a traitor to his country!
He would do so if he were President 🤷
Not even attempting to hide the ball. I like the honesty. Cheney and Bush could learn a lot from this guy.
It's always the same ..
He's not opening anything when he isn't in charge of the damned country! This would be like Hillary Rodham Clinton saying she's going to stop all US oil & gas extractions. The position is irrelevant b/c she's not the one currently in control with the power to make that decision!
So this sounds like Inquisition Activity by the Spaniard Guaido. These people don't care about International Law. Sanctions only hurt Business to Business. Nation to Nation is another Jurisdiction. - US Sanctions Bank Jointly Owned by Russia, Venezuela
He should be careful about this
In other words, opening up his country's oil reserves to foreign looting
Not his oil to sell yet...
The faux president sponsored by certain Western powers wants to open up resource-rich areas of his country to exploitation from said Western Powers - giant surprise!
Bankster FakeNews Reuters counting their Regime Change Chickens before they're hatched?
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Source: Reuters - 🏆 2. / 97 Read more »