Juan Guaido will open up Venezuelan oil to foreign companies, his US envoy says | WHAT REALLY HAPPENED


Juan Guaido will open up Venezuelan oil to foreign companies, his US envoy says

An envoy to the US for Venezuelan opposition leader Juan Guaidó has said the country’s oil reserves would be opened to foreign investors, bolstering suspicions that Washington’s support of Guaidó is oil-dependent.

Guaidó’s representative in Washington, Carlos Vecchio, told Bloomberg that the opposition leader wanted to increase oil production and scrap current requirements that state-owned oil giant PDVSA must keep a controlling stake in joint ventures. Currently, PDVSA must maintain a 51 percent stake in joint projects.

US President Donald Trump threw his support behind Guaidó in January and called on “illegitimate” Maduro to step down after the opposition leader declared himself interim president.

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