MercoPress. South Atlantic News Agency

Venezuela renames Oil Ministry to include other fuels

“It is an integral policy, it is not only oil, it is also gas, petrochemicals, it is the integral vision that the President has,” Rodríguez explained

The Venezuelan administration of President Nicolás Maduro renamed the Oil Ministry which will be henceforth known as Ministry of Hydrocarbons, Executive Vice President Delcy Rodríguez announced Wednesday. The measure seeks to boost the sector, she explained on her Telegram account.

Rodríguez also thanked Maduro “for creating and promoting a new comprehensive vision that encompasses our huge reserves of oil, gas, as well as petrochemicals and the incorporation of artificial intelligence to make our productive processes more efficient.” With this strategic shift, the Bolivarian Republic “looks to the future with great hope because we are a country that is an energy power for national development,” she argued.

The vice president described Maduro's decision as a new vision to boost “oil and gas production” and for the country to become an exporting power by 2026-2027. Venezuela “looks to the future with great hope because we are a powerful nation and we are giving impulse to the great potentials that our country has in terms of energy,” she stressed.