Business & Economy

Maduro: Venezuela ready to supply world oil and gas market

Caracas, Sep 14 (EFE).- President Nicolás Maduro said Wednesday that Venezuela, which has the largest proven reserves of crude oil on the planet, is ready to supply the global oil and gas market in coordination with the OPEC+ alliance, led by Saudi Arabia and Russia.

“Venezuela is ready and prepared to fulfill its role and supply the oil and gas market with the oil and gas that the world economy needs (…) in coordination with OPEC+,” the president said.

Maduro, accompanied by OPEC Secretary General Haitham al-Ghais, who is visiting the Caribbean nation, said Venezuela has been “substantially recovering” its oil industry from the “corruption of a mafia” that destroyed its “fundamental structure of morality and functioning.”

He added that the country is also ready to “progressively and rapidly increase” its production of refined products and fertilizers.

“Venezuela has a very important offer in quality and quantity of fertilizers for our brothers in the world – for Colombia, for Peru, for the Dominican Republic and for all those in the world who need quality fertilizers at a good price,” he said.

On the other hand, the president, who said the world is at a “juncture as a result of the armed conflict in Ukraine,” claimed that the “irrational, unjustified and illogical sanctions” against Russia “have driven the world to madness” in recent months.

“Europe is condemned to lose in all its economic and energy aspects, and in all its dimensions,” he added.

Hours earlier, Ghais assured that Venezuela will play a key role in meeting world energy demands, which he predicted will increase in the next two decades.

Ghais arrived in the country on Tuesday for first visit to Venezuela after being appointed OPEC secretary general in January. EFE


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