AN approved extension of the Petroindependencia mixed company for 15 years

The National Assembly (AN) approved the expansion of the operation of the Petroindependencia Mixed Company, SA, with the purpose of continuing to strengthen the country’s oil industry.

In the ordinary session this Wednesday, the second vice president of the AN, América Pérez, pointed out that the extension period for the operation of the company was extended for 15 years, which must pay the State for its work in the exploitation of the hydrocarbons. In this way, the company will be able to operate until 2050

Petroindependencia is located in the state of Carabobo and was established in 2010, for an initial period of 25 years, that is, until 2035.

In that sense, the president of the Permanent Commission on Energy and Petroleum, the deputy for the Homeland Bloc, Ángel Rodríguez, emphasized that the oil industry has been recovering steadily in recent years, thanks to the efforts of the workers and workers at Petroleos de Venezuela (Pdvsa) and the country’s joint ventures.

“This action aims to ensure that imperial aggression does not hinder the growth of the oil industry,” he said, highlighting that it is a tactical movement to guarantee the social rights of the population.

Rodríguez explained that “a process of renewal of the mixed companies is currently underway and, in this sense, it was agreed to “extend the duration” of Petroindependencia, whose largest shareholder is the Venezuelan State, with a 60% stake. .

On the other hand, the Parliamentarian highlighted the approval of a modification of the decree of constitution of Petroindependencia which, as he explained, exonerated the mixed company and its shareholders from paying an obligation for the extension of the crude oil exploitation time. “Today they have to pay for it,” said the parliamentarian, who argued that currently the “same geopolitical, economic and energy conditions” of 2010 do not exist.

Furthermore, Rodríguez assured that the oil industry is going through a “sustained recovery process,” and considers it “quite probable” that this year it will reach a production of 1,2 million barrels per day (bpd).

After the unanimous approval, the secretary of the AN, María Hernández, was asked to carry out the corresponding procedures to comply with the request made by the Permanent Commission on Energy and Petroleum.