jose chalhoub

Maduro assumed 2nd term with the outlook for a clash of power with an opposition controlled national assembly.

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So today President Maduro assumed his 2nd term with the landscape of an important number of countries in Southamerica, the EU, the U.S. not recognising his rule under allegations of usurpation of power and with only a few heads of states and representatives attending his ceremony... not even relevant authorities from Russia or China. In parallel, the opposition controlled National Assembly led by his young president Juan Guaido just announced a rather tepid strategy in order to fill the void left by this alleged "usurpation" of power stating that it has the international recognition as the only power in Venezuela.


I In general clouds once again storm over the country in the months ahead. While the oil industry faces a grim prospect even with the latest announcements that 2 dark companies, one from the U.S. and the other one from France announced investments with PDVSA, although unlikely to impact on a recovery of its oil production in months ahead, as per Maduro said to lift oil production to 2.5 millions of barrels per day. Its expected increased levels of political risks in Venezuela ahead. 

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