PDVSA Petróleos de Venezuela : Minister Del Pino on quick tour of OPEC and non OPEC countries

Caracas.- The President of the Bolivarian Republic of Venezuela, Nicolás Maduro, as part of the National Economic Council, said the People's Minister of Petroleum and Mining and President of Petróleos de Venezuela, S.A. (PDVSA), Eulogio Del Pino, will tour the member countries of the Organization of Petroleum Exporting Countries (OPEC) and non OPEC producing nations to promote the equilibrium of oil prices.

'We have a concrete proposal for pricing and the stabilization of the oil market, but the geopolitical interests of the empire have prevented it. Venezuela has the proposal to achieve an equilibrium price with real arguments. We must stop this madness', said the Head of State.

The president said that while thousands of workers in the oil sector have been laid off in the United States, Argentina and other countries, 'here we have not laid off anybody because work is sacred. We must reduce operating costs through scientific, technological and administrative processes and become more efficient. I trust our oil working class', he said.

President Maduro said that oil prices have remained volatile and at a very low level, dropping to $22 per barrel. 'The economic, financial and social effects of this situation have been tragic and demand that we balance and recover the oil market and the investment that requires', he said.

Industrialization of the Orinoco Oil Belt moves forward

President Nicolás Maduro announced that on January 28 will be inaugurated the Grooved Tubes Plant in the city of El Tigre, in the state of Anzoátegui, in the heart of the Hugo Chávez Orinoco Oil Belt. This is part of an agreement between PDVSA and the Venezuelan Association of Small and Medium Oil Industry (Petropymi).

Minister Eulogio Del Pino said that 'before we imported these materials from Colombia. Now we will guarantee the supply of all grooved tubes that the oil industry needs. This is a successful initiative and is the first of twenty that are being developed at the Belt'.

Proposals to boost national productivity

As a result of the work of the National Economic Council, President Nicolás Maduro announced a series of measures to revive and revitalize the national productive apparatus.

By decree 2198, he created the Centralized System, Standardized and Integrated of Public Procurement. 'The Public Procurement Plan will be a powerful instrument to promote the activation of the drivers of the economy. It will start working next Monday, February 1st, Ezequiel Zamora birthday. I call upon all public and private companies, the communal power and international capital to participate in this initiative', said President Maduro.

Also, the president established by decree the Special Economic Aquifer and Fishing Belt, to promote production in this sector. In this context, he announced the signing of an agreement to ensure fuel and logistical support to tuna and shrimp fishermen.

Rejection of the National Assembly obstructionism

The Head of State condemned the disapproval of the Economic Emergency Decree by the National Assembly, calling it an unconstitutional action. He blamed the President of Parliament, Henry Ramos and Delegate José Guerra for turning their backs to the current economic situation of the nation. 'I reserve the actions that I'm going to take within the framework of the Constitution,' said President Maduro.