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PDVSA – Coercive Measures Threaten The National Oil Industry


During the presentation of the Annual Message to the Nation before the National Assembly, the Public Powers and the Venezuelan people, the President of the Republic Nicolás Maduro Moros highlighted that 18.75 percent of the coercive measures imposed by the US government attack the national oil industry.

In this sense, the Head of State denounced that the oil activity in its entirety has remained under a process of constant persecution, “with the objective that Venezuela does not have the resources that it must freely receive to invest in its economy and in the rights social of the people”.

In this regard, President Maduro indicated that the union of all Venezuelans is necessary to reject the coercive measures to which the people have been subjected. “All Venezuelans and Venezuelans must unanimously reject imperialist interventionism, foreign interventionism in our Homeland.”

In his address, the National President added that due to the measures of economic aggression, which directly affect all the operations of the national oil industry and its related activities, the country stopped receiving 232 billion dollars, taking oil production as an average before the so-called Obama Decree, at which time about 2.8 million barrels were produced.

The dignitary asserted that the damage has not been only oil, but that “the evil has spread to other sectors.” In fact, the overall impact that sanctions have had on the national economy exceeds $642 billion.

In his speech, the National President mentioned that the state-owned Petróleos de Venezuela, SA (PDVSA) has a new Board of Directors chaired by Colonel Pedro Tellechea. “I hope that the Board of Directors puts PDVSA on the path of definitive recovery, of total recovery, of increasing production and capturing the wealth that the people of Venezuela need for economic investment, social investment,” he emphasized. the first national president.

He urged the productive and entrepreneurial sectors to continue advancing in this new economic stage that glimpses the birth of a new post-oil economic model, the strengthening of “a diversified economy that produces goods and services, self-sustaining and truly independent.”

In relation to the economic and productive growth of Venezuela, the President of the Republic emphasized that the Gross Domestic Product (GDP) experienced an increase of more than 15 percent in the first nine months of 2022 (January and September), data that reflect ” positive advances towards a 2023 of prosperity for the Venezuelan people”.

On the other hand, the National President rejected the position of the United Kingdom with a policy of coercion against the people of Venezuela by recognizing the extinct AN of 2015. He took the opportunity to recognize the full legitimacy of the Legislative Power democratically elected in 2020, reaffirming that “there is no other legislative power. The rest is a farce staged as part of an economic, political, energy aggression, it is a threat that we knew how to face and we knew how to defeat it”.

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