Reshuffle aims to restore PdV output

摘要

Venezuelan president Nicolas Maduro has named Nelson Martinez as energy minister and narrowed Eulogio Del Pino’s role to chief executive of state-owned PdV, as the beleaguered government looks to revive the firm’s falling output. Martinez, an oil industry veteran who served as president of PdV’s US refining subsidiary, Citgo, from 2013 until he was appointed energy minister on 4 January, will monitor Opec’s compliance with its crude output reduction deal that entered into force on 1 January, Caracas says. But Martinez, who worked in PdV’s strategic planning division in the 1990s before late president Hugo Chavez first took office, will work closely with Del Pino in developing and executing strategies aimed at rebuilding the company’s core operations.