20 Foreign Companies Will Invest in Venezuela’s Oil Sector

The president of Venezuela, Nicolás Maduro, announced that 20 foreign oil companies will invest in the Venezuelan oil sector.

“With 20 new investors—all of them international—who will get into oil and gas production in Venezuela, we do not need a colonialist license from the gringos; we are going to develop with our own lungs,” President Maduro commented during an event of the “act of commitment with the working class for the development of the country,” held at the PDVSA headquarters in La Campiña, Caracas, on Thursday, April 18.

He added that the 20 new contracts with international companies will be signed within the next few days.

4. Por último 20 nuevas empresas extranjeras en él aérea de petróleo invertirán en Venezuela.
“No necesitamos licencias”, señaló el presidente @NicolasMaduro pic.twitter.com/EwOEMxegzU
— Madelein Garcia (@madeleintlSUR) April 19, 2024

He explained that the agreements were made within the framework of the Anti-Blockade Law, the mechanism with which Venezuela is trying to circumvent the unilateral coercive measures imposed by the United States and the European Union.

“Yesterday, the US carried out its threat [of revoking License 44 that provided some sanctions relief],” President Maduro continued. “It is the only thing that they know—threats, lies, blackmail, continuing the unilateral coercive measures.”

He explained that due to the non-compliance by the US government with the agreements that it signed with Venezuela, the Venezuelan government decided to make public the contents of all those agreements.

“License 44 was useless, it became a huge garbage for the country—that is the truth!” said Maduro.

He stated that the Venezuelan oil industry is growing with its own effort, in a sustained and self-sustainable manner, and recovering its planning, operative, technological and financial capacity.

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He emphasized that PDVSA will recover its international market, and added that the country is in an advanced stage of comprehensive recovery, political stability, and economic growth.

“We are going to recover the social and labor welfare of the workers and the people of Venezuela,” he affirmed.

Signing of commitment to oil sector sovereignty
During the event, the workers of the Venezuelan public oil company ratified the independence and absolute sovereignty of PDVSA, with President Maduro signing the document of commitment to sovereignty of the oil sector.

“With the signing of a commitment for a new stage of the oil sector sovereignty that starts today, we will respond to the US threat with our greatest commitment, with our will, and by our example,” President Maduro stated.

Minister of Petroleum and President of PDVSA Pedro Rafael Tellechea endorsed the loyalty of the oil sector workers.

“You can count on the honesty, loyalty and talent of the entire oil sector working class and of this management team to continue the definitive recovery of PDVSA, with our own efforts, overcoming the obstacles of criminal sanctions,” Tellechea said.

(RedRadioVE) by Victoria Torres

Translation: Orinoco Tribune

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