Maduro Shuffles PDVSA Management, Oil Minister

OilPrice.com ------- As investors wait to see if PDVSA will default on about US$3.5 billion in debt due this fall and push oil prices up, Nicolas Maduro has for the second time this year reshuffled the company’s senior management. Eulogio del Pino, who served as Oil Minister until this year, is now back in the government. In January, Maduro removed him from the minister’s office, replacing him with Nelson Martinez, who until that headed Citgo, the U.S. business of PDVSA. Now Martinez will take the reins at troubled PDVSA. Del Pino has spent 30 years at the state oil company and served as chief executive between 2014 and January this year along with his ministerial responsibilities. To learn more click on the picture below to read the article.