A more pragmatic PDVSA may be emerging

So, this turned out to be false. But the point remains. Ever since Hugo Chávez got terminal cancer and stopped running the day to day of Venezuela, PDVSA has been taking more pragmatic decisions. The latest ones:

Opening bid round to let service companies revive old, low-production wells. (via)

Eulogio Del Pino…met with the private sector and presented the Well Connection by Service Companies project to reactivate more than 1,000 wells in Lake Maracaibo. The bureaucrat explained that the project represents a pilot plan for a new contracting scheme, fed by a trust fund with payment guarantees and whose objective is to boost production.

Talking with Trinidad and Tobago about how to finally tap a shared gas field. (via)

the Venezuelans are moving quickly…Ramnarine described the two-day meeting as “a historic advancement,” adding that “we have moved Loran-Manatee more in two days than we have moved it in two years.”

And also, the weird silence: I haven’t heard of any face-palm-inducing ridiculous proposals out of PDVSA in quite some time. We’ll see if this keeps up.

3 thoughts on “A more pragmatic PDVSA may be emerging

  1. Tom ODonnell

    Yep. I agree (albeit tentatively). it is notable that during Chavez’ presidency there were many very reasonable-sounding plans and projects floated to increase production. (None of this stuff is new per se.) They’d progress for months – even sometimes up to signing agreements etc. …and then: NOTHING! The project or policy would just disappear.

    Many would break down over details of payment terms. But, things do appear different now There seems to have been a plan-in-waiting that emerged as Chavez left the scene But, we’ll see what happens if/when Maduro calls Ramirez for serious cash infusions before an election …

    1. sapitosetty Post author

      Yeah, and didn’t last long anyway. Today’s press release is “PDVSA Agrícola desarrolla innovador programa de certificación industrial en zonas rurales.” The agriculture subsidiary of an oil company is now certifying industrial companies. Of course!!!

      1. Kepler

        I had to read that twice in my mother tongue. It’s hard to parse.$
        “Eficiencia o nada”, these madmen shout every day or so.

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