A Venezuelan military leader has been named president of Petroleos de Venezuela SA and minister of petroleum.
Maj. Gen. Manuel Quevedo was appointed by President Nicolas Maduro to replace Nelson Martinez as PDVSA chief and Eulogio Del Pino as petroleum minister.
Venezuelan oil production recently fell below 1.9 million b/d, its lowest level in 30 years.
Quevedo is not known to have oil industry experience.
In a national videoconference after his appointment, he said, "Anyone who wants to be in the industry has to be a true patriot and has to demonstrate it with results.”
