Head of State calls for developing hydrocarbon industry and building independent economy

Published at: 20/01/2025 06:00 PM

The president of the Bolivarian Republic of Venezuela, Nicolás Maduro, said on Monday that the country must continue to be part of the global energy equation and at the same time build an economy independent of hydrocarbons.

During the installation of the National Council for Productive Economy 2025, together with businessmen and the Ministerial Cabinet, the Head of State pointed out that Venezuela is in a positive dilemma in the economic context.

“The world is in an energy transition, but all hydrocarbons will continue to play a role, as foreseen by the Secretary General of OPEC and all world experts, for several decades,” he stressed.

He indicated that “Venezuela's great dilemma in its economy is to continue to depend on oil” or “to develop an economy that generates wealth free of oil (...) A positive dilemma because we have the largest oil reserves in the world, we have the fourth gas reserves in the world, we have a powerful petrochemical industry and stop counting.”

In this regard, he reiterated that Venezuela must fully develop its hydrocarbon industry and be part of the energy equation, “of energy stability in the world”, in addition to “building an economy independent of hydrocarbon wealth, productive and that makes the country happy.”

Mazo News Team