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The Venezuelan opposition leader laid out a detailed plan to oil executives gathered in Houston that would transform Venezuela's oil sector from a state-run enterprise to a 'fully private' industry.
Maria Corina Machado said her plan could raise the country’s oil production from the current roughly 1 million barrels a day to as much as 5 million barrels a day, higher than the country produced at its peak. | Francis Chung/POLITICO
HOUSTON — Venezuelan opposition leader María Corina Machado said her country could eventually quintuple its crude production with a transition to a democratic government and an extensive overhaul of its oil rules.
Machado laid out a detailed plan to oil executives gathered at the CERAWeek by S&P Global conference in Houston that would completely reform Venezuela’s oil sector, transforming it from a state-run enterprise to a “fully private” industry. The U.S. captured the country’s former leader Nicolás Maduro earlier this year and has hoped to boost production from its moribund oil fields.
