Venezuela Interim President Appoints New Oil Minister
Delcy Rodriguez, interim president of Venezuela, appointed a new hydrocarbons minister, a crucial position in the oil-rich nation that she previously held under the ousted leader Nicolas Maduro. The recent appointment comes after significant visits by US President Donald Trump's secretaries of energy and interior to discuss boosting oil and gas output following Maduro's removal.
Rodriguez declared on Telegram that she has chosen "petroleum engineer Paula Henao to be the new Minister of Hydrocarbons."
Rodriguez mentioned that her responsibilities will include "further improving our country's energy sector and strengthening the autonomous development of the national oil, gas, and petrochemical industries."
Paula Henao has more than 20 years of experience at PDVSA, the state-owned company of Venezuela, and previously served as the deputy minister in charge of oil.
This signifies the latest turmoil in Venezuela's leadership under Rodriguez, who assumed power in early January following the deadly US military action that ousted Maduro and his partner from the country.
Reviving Venezuela's oil sector, affected by sanctions, has emerged as a central priority for her, coinciding with Washington's objectives, as she seeks to pull the country out of a lengthy economic downturn.
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Confronted with US pressure and a naval blockade in the Caribbean, Rodriguez has implemented legal amendments to permit private investments in the industry.
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The Trump administration has, during this time, granted sanctions exemptions to six major energy firms for their activities in the country.
A variety of investors from the U.S. and other countries, such as hedge fund managers and energy investors, are planning to travel to Venezuela soon, seeking to engage with the country's top politicians and business leaders while investigating investment opportunities, according to event organizers and participants.
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Distinct advisory groups are coordinating three investor trips, with New Jersey's Trans-National Research and Caracas-based Orinoco Research, a specialized advisory firm, participating in parallel efforts alongside Signum Global Advisors, according to reports.