Economy 06-12-2018

Maduro: in 2019 all of Venezuela's oil production will be sold in the petroleum cryptocurrency

The president of Venezuela, Nicolás Maduro, indicated that for his country he will sell all his oil in the cryptocurrency petro, as a strategy, to free himself of transactions exclusively in dollars.

"I announce that Venezuela in 2019, all its oil production will be sold in petroleum, progressively, with a timetable that has already been approved," he said.

Maduro denounced that countries such as Russia, Venezuela and Iran are victims of an "absolutely absurd" policy, which, contrary to the intentions that he attributed to the United States, is causing the construction of a new world "with greater acceleration" to materialize.

"A new world in the monetary field, we have proposed to Russia the possibilities of the petro," he said.

Maduro explained that in the High Level Mixed Commission both nations will evaluate trade exchanges in Petros.

Oil production

In addition, the Venezuelan president reiterated that his government took to the meeting of the Organization of Petroleum Exporting Countries (OPEC) a proposal to further reduce oil exploitation.

"Venezuela is always going to defend OPEC and now we defend the OPEC alliance with the non-OPEC oil countries, our position is very clear, we believe that there must be a cut, an extension of the Vienna agreement of December 2016, we are optimistic "Maduro said.

OPEC member countries and producers outside the bloc have been discussing since December 5 a proposal to cut oil extraction by at least one million barrels a day.

If this agreement is approved, it would represent an extension of the pact signed in December 2016 for the stabilization of the international prices of this hydrocarbon.

On the other hand, Maduro said that in his current visit to Russia signed with oil companies of that country oil contracts of 5,000 million dollars, which are aimed at increasing the Venezuelan production that has been falling for three years.

"Contracts have been signed today to guarantee investments of more than 5,000 million dollars to increase oil production with our Russian partners and joint ventures," Maduro said in a video posted on his Twitter account.

He added that agreements were also reached that guarantee "an investment of more than 1,000 million dollars for mining production, mainly in gold."

The Venezuelan president is in Russia since last Tuesday 4, and left for this country after holding a meeting with his Turkish counterpart, Recep Tayyip Erdogan, in Caracas.

Maduro held a meeting on December 5 with his Russian counterpart, Vladimir Putin, in which the Russian leader expressed his support for Venezuela, and his intention to increase the flow of trade between the two nations.


Consulte a nuestros especialistas