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News > Venezuela

Venezuelan President Makes New Announcement for Oil Sector

  • Venezuelan President Makes New Announcement for Oil Sector

    | Photo: @NicolasMaduro

Published 7 January 2019

The Venezuelan President insisted that the oil sector in the country was recovering a "strong dynamic."

Venezuela's President Nicolas Maduro reported Sunday that his cabinet reached an agreement with a French private company who agreed to invest in the Venezuelan oil sector in order to increase the production in the western State of Zulia, as part of the international investments for the 2019-2025 period.

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"We have had a positive meeting with French investors who have expressed their trust in the investments they will be doing, and their interest in broadening the frame of investments beyond what we have signed in the future."

He highlighted new measures that will guarantee all international investors better legal, judicial and institutional security for operations in the country.

Maduro also reported that Turkey's President Recep Tayyip Erdogan expressed over the phone all his support to the Bolivarian government and the new mandate Maduro was inaugurating on Jan. 10. Erdogan also confirmed that a delegation headed by Turkey's Vice President will attend the inauguration ceremony.

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