Tensions within the Venezuelan government are thwarting efforts to reform the framework for foreign oil investment, which is vital for the country to increase production and repair critical infrastructure. Energy minister and chief executive of state-owned oil firm PdV, Eulogio Del Pino, has acknowledged in recent meetings with foreign oil companies that the 60:40 partnership template that PdV has used since 2005 “has never worked as intended”, an executive who attended two meetings held since February says. The partnership model for upstream and downstream oil ventures stipulates that PdV hold a majority stake and exercise operational and decision-making control. The company retains control of all joint-venture revenue.
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机译：委内瑞拉政府内部的紧张局势阻碍了改革外国石油投资框架的努力，这对于该国增加产量和修复关键基础设施至关重要。能源部长兼国有石油公司PdV的首席执行官Eulogio Del Pino在最近与外国石油公司的会议上承认，自2005年以来PdV使用的60:40伙伴关系模板“从未像预期的那样工作”。自二月以来参加了两次会议。上游和下游石油企业的合作伙伴关系模型规定，PdV持有多数股权，并行使运营和决策控制权。该公司保留所有合资收入的控制权。
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