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News // Oil and gas worldwide

Del Pino: «Oil workers and the Revolution are indivisible»

24 June 2016 , 16:33Neftegaz.RU593

At a big march of oil, gas and petrochemistry workers, Eulogio Del Pino, the People's Minister of Petroleum and President of Petroleos de Venezuela, S.A. (PDVSA), said that oil workers  provide unconditional support to the National Government and the President of the President of the Bolivarian Republic of Venezuela, Nicolas Maduro Moros.

 

«Today we are supporting again our Revolution. Oil workers have always been present in the most important moments in our history. We come to support our constitutional president», said Del Pino.

The oil minister also said that oil workers and the Revolution are indivisible, because thanks to them, back in 2002, we kept our oil company from being used against the Nation’s democracy».

«Today, as always, we have come from our rigs, refineries and upgraders, with our production guys to this massive show of commitment. From the early hours we mobilized in an orderly fashioned and securely from across the country to reach Miraflores Palace», said Del Pino.

 

Market stabilization

 The PDVSA president said that Venezuela has led all strategies for finding an equilibrium price for oil, something that has been acknowledged by OPEC and non OPEC countries. "We are not tied to any reduction dogma; we are introducing innovative approaches that can lead to an equilibrium price that justifies the sustainability of investments”, he said.

«All oil producers were last week in Russia studying the responsibility of supplying 95 million barrels per day; these barrels also decline every day and it is necessary to replace them, which requires a level of investment that is difficult at current prices», said the minister.

He said the proposal is for an equilibrium price that justifies these investments and makes possible to sustain them. «If not, what we have is an imbalance and prices will be controlled by speculators, which is what the capitalist market wants».

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