What will happen with Venezuela's oil sector? Privatization needed?

[Tom Kirkman + 8,860]

Heh heh, are there any good leaders on PDVSA in the last few years?  Seems the leadership just keeps going from bad to worse.

[jose chalhoub + 388]

im sure about there is stil good young leaders but in many cases they are kept from reaching the highest positions since these are left for the most politically linked with the revolution sadly, prompting many of them to leave the country and the industry.. Here oil education in universities has been pretty much good but also most of the professors have been leaving en masse due the economic crisis.. 

[Worked_the_World 0]

I also worked with PDVSA some years ago as a consultant. It seems to me from an external position that the facilities have suffered a serious lack of maintenance and updating for approaching 25 years. They were not the best even in the 1990's. jose has it right. The lost of intellectual capital, including most of the fine engineers with whom I worked with, is most crippling. The deterioration of the physical plant is massive. The loss of confidence in the world market is profound. 

The latest desperate move to turn the management of PDVSA over to the military would seem to be fatal. 

[lahcene mebarek + 1]

On 25/4/2018 at 3:02 PM, jose chalhoub said:

thank you too rodent!!! In my view, recovering PDVSA wont be that difficult, as Venezuela still has large reserves of oil. Venezuela only needs to change regime and its entire mindset, enhance and create a new and fresh environment for foreign investment, and stimulate the coming back and also the inflow of more workers properly qualified for the oil industry. I gotta remind that PDVSA was always ranked top 3 in the world like 30 decades ago more or less and was an active and sounding member of the OPEC. Now, Venezuela has sadly become the laughingstock of the organisation without any voice to influence in any decision of the organisation. Regarding the deals with Russia and China i am not in disagreement entirely, given their expertise at least from the russians in natural gas and oil. But in general, Venezuela needs to have equal partnerships with all the relevant players in the global oil and gas landscape. 

changing regime don t change anything, changing culture and mind can do, venezuela need honest, educated and intelligent people, maybe the revolution changed something in the top of the government and came with some new faces, but in the rest are the same people just they wear red color and not convainced by the new ideology they just join it for their interests and to distruct it from inside, the problem isn t socialism, the problem is corruption is so popular here, and didn t let socialist or any ideals grow. so they applaude if if everything run fine for them and run away if not

Edited May 7, 2018 by lahcene mebarek