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Trump Will Eventually Overpower Maduro

There has been a remarkable lull over Venezuela – the country as a whole is still unsure what step to take next, the international community has tired a bit of the issue, whilst mainstream media switched over to the prospects of Boeing and the botched Brexit campaign. Yet Venezuela’s national oil company PDVSA finds itself in an increasingly complex situation, seeing its list of potential counterparties narrow by the day, its finances wane and its operations exacerbated by a week-long blackout. Whatever your political backgrounds and preferences, you should look out for President Nicolas Maduro’s actions as he approaches the last months of his tenure. Maduro’s ouster now seems as certain as death and taxes, however, his departure will not make life easier for anyone.

The Venezuelan opposition presented its vision of Venezuela’s future in the post-Maduro era, which should appeal to anyone advocating free trade. The comprehensive oil reform draft created in the recent days sets out the creation of an independent hydrocarbon management agency that would kick off a Mexico-styled Round Zero during which PDVSA, about to remain in state hands, would pick the upstream assets it wishes to retain. Most notably the oil bill would allow foreign oil majors to fully own an asset on Venezuelan soil, be it an upstream or downstream one, thus opening up the country for foreign investment. The proposal, however, comes with a seemingly innocent flexibility…




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