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Tareck El Aissami<\/p>\n\n\n\n
Reuters
Tareck El Aissami<\/p>\n\n\n\n
By Patricia Garip \/ Argus<\/p>\n\n\n\n
MEXICO CITY
Petroleumworld 12 13 2021
Venezuela’s oil minister Tareck El Aissami returned to work this week after a prolonged medical leave and will not be replaced, a senior source close to the government told Argus.<\/p>\n\n\n\n
A second source confirmed the information.<\/p>\n\n\n\n
The minister attended meetings in person in Caracas this week and will resume tours of industry installations on 13 December with a refinery visit, Argus has learned.<\/p>\n\n\n\n
El Aissami’s longer-than-expected recovery from a surgical procedure related to a genetic condition had sparked speculation of a replacement at the helm of the strategic post, either with executive vice president Delcy Rodriguez or the chief executive of national oil company PdV Asdrubal Chavez.<\/p>\n\n\n\n
The apparent stability in the tight circle around President Nicolas Maduro came as a relief to some domestic private-sector executives who are cautiously rebuilding communication with the government with an eye on investment opportunities, including debt-for-equity deals and renewable energy projects. Rodriguez and her team have played a key role in this tentative detente. Much of the business community had been firmly in the camp of the political opposition until this year.<\/p>\n\n\n\n
El Aissami and Rodriguez are among the individual targets of US sanctions, and El Aissami in particular is wanted in the US for drug-trafficking.<\/p>\n\n\n\n
One of the founding members of Opec, Venezuela has recovered oil production to more than 700,000 b\/d, not including gas liquids and water that often pad higher estimates. This is about double the level at the start of 2021, but remains a fraction of the 3mn b\/d that Venezuela produced in the 1990s. The recovery is nonetheless seen as reflecting the country’s adaptation to US oil and financial sanctions.<\/p>\n\n\n\n
El Aissami is considered a critical link to Iran, which has been supplying Venezuela with condensate this year, allowing PdV to carry out more blending of its extra-heavy Orinoco crude.<\/em><\/p>\n\n\n\n _____________
By Patricia Garip from Argus Media<\/p>\n\n\n\n