The war in Ukraine opens a window for Nicolas Maduro’s Venezuela. The United States veto of Russian crude quelled years of hard-fought disagreements between Washington and Caracas. The Bolivarian leader announced on Monday that foreign oil companies—among which Repsol- Will be able to work again in the Caribbean country.
The measure is vital to the Venezuelan economy. The deal between Maduro and Biden would allow Caracaso Get rid of your debt and benefit from foreign investments in country. The machinery is already running. Venezuela’s exports to the United States increased by 160% in the first quarter of the year. This figure does not take into account the impact of the withdrawal of US sanctions on Venezuela.
President on March 8 Joe Biden Announced a complete ban on Russian oil and gas. A few days later, the US administration pointed to Caracas as an alternative to Russian crude. A few weeks ago, Washington announced that it would lift some economic sanctions, including the US oil company from negotiating with Venezuela’s state-owned PDVSA, in exchange for reactivating talks between the Maduro government and the opposition in Mexico. Contains a ban on chevron. , This Monday, the announcement was a reality.
Nicolas Maduro said, “A week ago, the United States took some modest but significant steps by granting licenses to Chevron, Eni and Repsol to start processes that allow Venezuela to export gas and oil production to their natural markets.” inspires.”
In statements to the media, the rival, Henrik Capriles“The great beneficiary was Putin,” he said. Nevertheless, Capriles has insisted that the “man responsible for the country’s ruin” is Nicolas Maduro.
Venezuelan oil, again in Spain
Spain has not imported a single barrel of Venezuelan oil since September 2020. In 2019, Caracas was the third largest supplier of crude, after only Mexico and Brazil, according to CORE. The turn of the wheel in relations between the US and Venezuela would return the arrival of oil from the country to Spain, and supply the amount purchased from the Kremlin. Repsol to start shipping crude oil next month julio,
The oil company currently refuses to make a statement in this regard. Still, this news could blow his figure. In the recent balance, the presence in Venezuela had become a headache for Repsol. The pressure on the company to leave the Caribbean country continues.
Spanish oil company has an exhibition in the country that It was close to 300 million euros at the end of 2021, What stands out is its participation (40%) in the Petroquiriquier joint venture in partnership with the Venezuelan Petroleum Corporation. Also the Perla Project, one of the largest offshore gas fields in Latin America.
How is the Venezuelan economy growing?
Maduro even said that the stability of the exchange system and its “stability”, a slowdown in inflation and the “reproducibility” of bank credit are aspects that have helped economic growth.
On 16 May, the Venezuelan Finance Observatory (OVF), an independent body made up of economic experts, said that the Venezuelan economy increased by 7.8% In the first quarter of 2022 compared to the same period in 2021, due to an increase in oil activity.
Oxygen Ball for Maduro Thanks to the Disconnection of Russian Oil