PERSONNEL MOVES AND PROMOTIONS: Venezuela names Parra new PDVSA head

03/04/2002
Click here to enlarge imageVenezuela's President Hugo Chavez has appointed economist and banker Gastón Luis Parra Luzardo president of state-owned Petroleos de Venezuela SA.Parra, who is PDVSA's fourth president in 3 years, was sworn in Feb. 13, succeeding General Guaicaipuro Lameda.Long a political ally of President Chavez, Parra helped draft Venezuela's new hydrocarbon law-effective Jan. 1-that increases royalty rates to 30% from 16%. Parra also helped draft legislation in the 1970s that led to the nationalization of Venezuela's oil industry. He has indicated that PDVSA will be reorganized to cut costs by as much as 25%, and he supports strict adherence to the O...
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