The president of the Bolivarian Republic of Venezuela, Nicolás Maduro, made a statement addressed to the international hydrocarbons community. He assured that oil and gas producers do not require external permits to invest in the country, in a clear message directed at the economic sanctions imposed by the United States.
During a global press conference held this Monday, the president was emphatic: «You do not need a license. Until when will Europe subordinate itself to whatever Washington orders? Here you are free. Come to produce.»
In his speech, he made a historical reference to emphasize his point: «The times of the Guipuzcoan Company have passed 200 years ago; in here the times of monopoly and imperialism are over.» In this way, he reaffirmed national sovereignty over oil resources and extended an open welcome to investors from all over the world.
Regarding the sector’s current performance, President Maduro stated that crude oil production continues in the rise: «It’s going very well, it’s growing, more than the numbers that have been published,» he stated, indicating that this growth is occurring both within the authorized frameworks as outside them.
He also linked the oil rebound to the country’s overall economic recovery. He pointed out that «the economy is growing and diversifying, but its backbone, oil, grows both with and without a license,» underscoring the industry’s fundamental role.
In addition to addressing the energy issue, the head of state established an ambitious macroeconomic goal. He highlighted his objective of increasing the Gross Domestic Product (GDP) by nine percentage points by the end of 2025, emphatically stating: «We will achieve it.»