Venezuela's Maduro Appoints New Oil Minister in Fresh Era for PDVSA

The President of Venezuela Nicolas Maduro has announced a new phase in the state oil company, PDVSA, to put an end to the corruption that has diverted the resources of the country.

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The head of state appointed Major General Manuel Quevedo as the new Minister of Petroleum and Energy and as well as president of the state oil company.

Maduro affirmed that the year 2018 will be a break from the oil model towards other economic sectors.

To this end, Maduro also appointed Vielma Mora as the new Minister of Foreign Trade.

Maduro also appointed Major General Carlos Osorio Zambrano as Minister of Transportation to give a boost to the sector after more than 500 state buses were burned during the violence promoted by the right-wing opposition earlier this year.

Venezuelan Attorney General Tarek William Saab announced last week that senior executives of the board of directors of PDVSA's Citgo Petroleum subsidiary were apprehended due to their relationship with a debt refinancing contract with two venture capital fund companies.