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News > Venezuela

Minister Says That Venezuela Ready To Sell Oil Worldwide

  • Minister of Petroleum, Tareck el Aissami (l), while he greets the Colombian ambassador to Venezuela, Armando Benedetti,

    Minister of Petroleum, Tareck el Aissami (l), while he greets the Colombian ambassador to Venezuela, Armando Benedetti, | Photo: Vicepresidencia Sectorial De Economía

Published 31 August 2022

Venezuela's Minister of Petroleum and Vice-President of the Economic Area, Tareck El Aissami, affirmed that the country is ready to market oil to any region or company in the world that is interested in Venezuelan crude.

"That if it is the Serbian Government or it is the U.S. Government, or it is any Government of the world or any country, even, or any company of any country, because there are also private companies that may be interested in buying crude, excellent," the official answered when consulted by Sputnik Agency in a press conference.

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At the end of June, Serbian President Aleksandar Vucic admitted that his nation must find alternatives to Russian oil due to supply difficulties associated with Western sanctions against Moscow for its special military operation in Ukraine, so he considered Venezuela as an option to supply its market.

Meanwhile, President Nicolás Maduro said in mid-August that in one year, the country could increase its oil production to 3 million barrels per day and stressed that the growth projection is maintained despite the sanctions imposed by the United States in 2017.

According to the Government, the sanctions against state-owned Petróleos de Venezuela S.A. (PDVSA) prevent any transaction in that country's financial system, from financing to the purchase of spare parts or maintenance contracting.

In this sense, the Minister said that the limitations for commercializing Venezuelan crude oil in the international market are associated with the sanctions imposed on PDVSA by the U.S. Government.

Furthermore, El Aissami asserted that there is no internal legal mechanism in the country that limits the commercialization of crude worldwide; he insisted that this is the nature of the state-owned oil industry.

"The commercial nature of PDVSA is to produce and sell crude oil, or to produce and sell refined derivatives, gas; I believe that there is a legal, constitutional or political disposition for us to sell our crude oil to any market," he indicated.

In May, Joe Biden's government announced the partial lifting of sanctions against Venezuela and authorized U.S. and European oil companies to negotiate and restart operations in this South American nation.

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