Venezuela “is ready” to supply the world market with oil and gas, says Maduro — RT in French

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Denouncing the energy crisis caused by the “irrational” sanctions taken against Russia, the Venezuelan president assured that his country was able to increase the volumes of black gold and gas intended for the world market.

“Venezuela is ready and willing to fulfill its role and to supply, in a stable and safe manner, the oil and gas market that the world economy needs,” Venezuelan President Nicolas Maduro said on September 14, in the during the visit to Caracas by the Secretary General of OPEC, Haitham al-Ghais.

The head of state said his government had “recovered” the oil industry, whose production had reached historically low levels after years of disinvestment and lack of maintenance. This now stands at around 700,000 barrels per day, compared to 2.3 million barrels per day in 2002.

Nicolas Maduro denounces “irrational, unjustified, illogical” anti-Russian sanctions

The successor of Hugo Chavez condemned the “energy crisis” generated by the sanctions against Russia, which he described as “irrational, unjustified [et] illogical”, while the European Union has just announced, through the voice of Ursula von der Leyen, its intention to maintain these and not to seek “appeasement”.

In response, Russia, Europe’s largest supplier, has repeatedly cut its gas deliveries, sparking fears of shortages and rising prices. At the same time, the G7 announced in early September its desire to “urgently” implement a cap on the price of Russian oil. In response, Russian President Vladimir Putin promised a halt to all deliveries of oil, but also gas and coal to countries that would join this measure.

Nicolas Maduro called for a “fair, balanced price” of $100 a barrel and reiterated his call for foreign oil companies to produce in Venezuela. “We are ready […] to increase oil production in a gradual and accelerated manner, to expand and increase the production of refined products,” he said.

Commenting on the global market situation, OPEC Secretary General Haitham al-Ghais said the organization was facing the “most serious, most critical” challenges since its inception in 1960. After taking over function on August 1, Haitham al-Ghais had estimated in an interview that “the recent rise in oil prices is not only linked” to the Ukrainian conflict, and pointed to a lack of investment in production capacities.

Venezuela tries to seduce international investors

Nicolas Maduro also argued that “Venezuela has more than 50 first-rate gas projects, with seismic studies carried out and with all the legal guarantees for international investors” to come “to produce gas in Venezuela and bring it to the international markets”.

The United States imposed a series of sanctions on Caracas in 2019, including an oil embargo after Nicolas Maduro was re-elected in 2018 for a second term in a vote boycotted by the opposition. However, the administration of President Joe Biden announced in May 2022 a relaxation of some of these sanctions and the granting of licenses to oil companies to operate in Venezuela, following the visit of a US delegation to Caracas. in March.

In addition to signing trade agreements with Iran and Turkey, Nicolas Maduro has also launched calls for Western investors in recent months. In particular, he declared at the end of June that Venezuela was ready to welcome “all French companies that would like to come and produce oil and gas”.

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