The president of the PDVSA ad hoc board, Horacio Medina, asked the AN 2015 to quickly define who legally represents Venezuela due to the open legal processes. Regarding the license to Chevron, he said that Venezuela does not benefit at all with the current conditions
Horacio Medina, president of the administrative board ad hoc of Petróleos de Venezuela (PDVSA), said that the National Assembly (AN) elected in 2015 has not yet notified what will be the fate of those who make up said board, despite the fact that the modification of the Transition Statute specifies that the structure will be remains after the dissolution of the interim government headed by Juan Guaidó.
In an interview granted to EVTV On the night of Tuesday, January 10, Medina explained that as long as they are not informed by the Asset Management Commission of the AN 2015 of what their destination will be, they will continue working on what they were designated by that instance: the defense of the assets abroad.
He did express his concern to the president of the AN 2015, Dinorah Figuera, regarding the political change that occurred in Venezuela after the elimination of the interim, which in his opinion will have legal repercussions and rapprochement with the countries. She clarified that, although OFAC issued a license in record time to recognize the National Assembly as an interlocutor, it does not detail how it will work. Therefore, she believes it is necessary to define these lines of action.
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Medina warned that there is concern in the lawyers and said that the lawyers of the PDVSA creditors have already begun to request hearings with the judges to discuss and change the arguments, saying that in Venezuela there is no longer a president. In this sense, she emphasized that it is essential to define soon who is the legal representative of the country before those instances.
On the license to Chevron, the president of the administrative board ad hoc from PDVSA said that Venezuela does not benefit at all with the current conditions, but for the US transnational it represents a way of being able to collect what is owed to it and for the regions where it takes its products because the economy is boosted there.
Horacio Medina highlighted that for the first time in the history of joint ventures, the presidency of one of these instances is given to someone foreign, in this case to Chevron. He said that this was something they had anticipated by saying that as the main injector of resources, they wanted to be in control to better manage their benefits.
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He clarified that Chevron has to pay the royalties and the tax, although he believes that it is likely that they will take a little more resources to recover money. In his opinion, other companies such as Repsol, ENI and Shell may also seek a similar license to partially resume their operations for the same purpose.
He believes that the appointment of the new PDVSA board was not to recover the industry by stating that the Vice President of Commerce only has three years of experience.
Regarding Citgo, Horacio Medina denied that the politician Leopoldo López and his family have had a hand in the operations of the board ad hoc from PDVSA.
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