OGJ Newsletter

Continuing upheaval in Venezuela, and in state petroleum giant Pdvsa, is generating concern among foreign companies pursuing investments in that country's oil and gas sector. Pdvsa has its third president this year: Hector Ciavaldini, formerly Pdvsa vice-president of planning and a close ally of President Chávez, succeeds Roberto Mandini, who presided over one of the world's largest oil companies for only 7 months. Mandini on Feb. 2 had replaced Luis Giusti, whom Chávez had targeted for sacking, along with much of the Pdvsa board, during a volatile campaign for the presidency last year. Neither Mandini nor Chávez cited the reasons for the Pdvsa veteran's d...

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