• Upstream
  • Pipelines & Transport
  • Downstream
Sunday, September 7, 2025
Oil&Gas Advancement
  • Home
  • News
    Live Transmission System to Transport Hydrogen

    SGN Uses Live Transmission System to Transport Hydrogen

    Egypt commits 400m investment

    Egypt Commits $400m Investment to Build a Gas Pipeline

    First Arctic LNG 2 Gas Delivery

    First Arctic LNG 2 Gas Delivery from Russia to China Starts

    Major Energy Deals

    Officials From Russia and The US Discuss Major Energy Deals

    Arctic LNG 2 Project from Russia

    Arctic LNG 2 Project from Russia Achieves Record Gas Output

    US LNG exports

    US LNG Exports Fuel Shale Gas Production Expansion

    North Sea oil discovery

    Norway Uncovers North Sea Oil Discovery Amid UK Exploration Scrapped

    Oil Gas Exploration in Mediterranean Sea

    Eastern-Libya to Approve Turkey’s Oil & Gas Exploration in Mediterranean Sea

    Iraq Chevron Signs Deal

    Iraq, Chevron Signs Deal to Revitalise Oil and Gas Assets

  • Projects
    First Arctic LNG 2 Gas Delivery

    First Arctic LNG 2 Gas Delivery from Russia to China Starts

    Major Energy Deals

    Officials From Russia and The US Discuss Major Energy Deals

    Arctic LNG 2 Project from Russia

    Arctic LNG 2 Project from Russia Achieves Record Gas Output

    Yellowtail Field Project

    Saipem Completes Construction of Yellowtail Field Project

    Venture Capital Makes Phenomenal US LNG Investment

    Venture Capital Makes Phenomenal US LNG Investment

    Mabadala Energy Invests in US Natural Gas Market Expansion

    Mabadala Energy Invests in US Natural Gas Market Expansion

    SEWA Implements Natural Gas Network Connection in the UAE

    SEWA Implements Natural Gas Network Connection in the UAE

    Adnoc Gas Expands LNG Supply to India for Decarbonisation

    Adnoc Gas Expands LNG Supply to India for Decarbonisation

    Natural Gas Transition Boost Economy in Northwestern Tunisia

    Natural Gas Transition Boost Economy in Northwestern Tunisia

  • Whitepapers

    OGA 2017 Post Show Report

    US Polyethylene Export Market Report 2017-2020

    US Polyethylene Export Market Report 2017-2020

    Embedded SSD Flash Management

    Enterprise SSD: More Than Just a New Kind of Hard Drive

    Efficiency, Visibility and Reliability Keys to lower costs and greater profitability in oil and gas operations

    Don’t Miss the Unconventional Resource Revolution’s Next Wave

    Better Safety, Better Business: Maintain Compliance and Drive Revenue: Put All of Your Data to Work

    Breaking the Application Barrier: Why Data is the Most Valuable Asset in the Oil and Gas Industry

    Drilling Optimization Through Advanced Analytics Using Historical and Real-Time Data

  • Press Releases
    Cloudera and Aramco Plan to Collaborate on AI driven Digital Innovation in Saudi Arabia

    Cloudera and Aramco Plan to Collaborate on AI-driven Digital Innovation in Saudi Arabia

    Youth-Empowerment at Namibia Oil and Gas Conference 2025

    Namibia Oil and Gas Conference 2025 Announces Future Generations Masterclass in Partnership with the Namibia Youth Energy Forum

    Alaska LNG

    Glenfarne Announces Over $115 Billion of Strategic Partner Interest for Alaska LNG

    agreements with US companies

    Aramco announces 34 MoUs and agreements with US companies

    Sinopec Sets New Vertical Well Depth

    Sinopec Sets New Vertical Well Depth Record of 5,300 Meters

    Jubail Asset Integrity

    Jubail to Host the 3rd Asset Integrity and Process Safety Conference & Exhibition 2025

    IPTC 2025 Launched: Driving Innovation, Sustainability, and Excellence in Energy

    Ocean Business announces exhibitor list for 2025 show

    Ocean Business 2025 conference programme announced

  • Market Reports
    AI Technology Maturing the Oil and Gas Workforce

    AI & Technology Maturing the Oil and Gas Workforce

    HDPE Market in Oil and Gas

    HDPE Market in Oil and Gas: Trends and Global Forecast

    Top 5 Oil and Gas Sector Trends that are Active in 2025

    Oil-and-Gas-Analytics

    Oil and Gas Analytics Market Growth Trends and Forecast

    Gas-Transportation

    Transport Capacity – Key to Gas Sector Growth in India

    Offshore-Drilling

    Namibia Showcases its Offshore Drilling Activities

    Global-Oil

    Demand for Global Oil to Grow to Almost 104 mb/d in 2025

    ExxonMobil to sell Norway upstream operations for $4.5 billion

    ExxonMobil completes acquisition of Pioneer Natural Resources

    Ithaca Energy unit to acquire Chevron’s Central North Sea assets

    ExxonMobil doubles Permian footprint after finalizing Pioneer acquisition

  • Events
  • Contact Us
No Result
View All Result
Oil&Gas Advancement
No Result
View All Result
Home America

Maduro replaces Venezuela’s longtime oil chief

in America, News, Pipelines & Transport
Share on FacebookShare on Twitter

CARACAS, Venezuela (AP) — President Nicolas Maduro has replaced Venezuela’s longtime oil boss and economic czar, sidelining the most-prominent voice within his administration for pragmatic reforms to tackle a deep economic crisis.

 

Rafael Ramirez had served as oil minister and president of the state-run oil giant PDVSA for more than a decade, earning a reputation as a loyal servant of the late Hugo Chavez’s socialist revolution. He saw his power within the government expand dramatically a year ago when Maduro tapped him as vice president for economic policy, giving him effective oversight of everything from the country’s foreign currency reserves to the price of gasoline.

 

As part of what Maduro called a new assignment for the 50-year-old engineer, Ramirez was designated foreign minister and given a newly created position of vice president for political sovereignty.

 

Maduro’s Cabinet shuffle Tuesday night was widely anticipated after his ministers collectively offered their resignations two weeks ago. But few Venezuelans expected such a dramatic demotion for Ramirez, who looked on long-faced as the president thanked him for his past service in front of an audience of top military and civilian officials at the presidential palace.

 

Ramirez’s loss of responsibility for the world’s largest oil reserves and 95 percent of Venezuela’s export earnings means investors who had been hoping that recent economic pain would spur a pro-business tilt will lose a potential ally.

 

In recent weeks, Ramirez had been promising policies that in many ways seemed to veer away from the past 15 years of increasing state control over the economy. These included an unpopular plan to raise gas prices — the world’s cheapest — and unify three official exchange rates that have been fueling the bolivar’s freefall in the black market, bleeding currency reserves and stoking inflation running over 60 percent.

 

While hardliners and military insiders were cold to such moves, Ramirez had the ear of Maduro, knew the ins and outs of the oil-dependent economy like nobody else and had carved out a power base at PDVSA from which many believed he could execute a much-needed overhaul.

 

In the end, Maduro may have calculated such moves were too costly politically — at least for now. Opposition protests in the spring left 43 dead by the official count; Venezuela’s bolivar has lost more than half its value in the illegal black market during his 16-month presidency, and essential items such as soap and sugar have become impossible to find with any regularity.

 

Recent polls show that support for Maduro has slipped below 40 percent.

 

During the three-hour televised address, Maduro provided scant details of the economic reforms that he’s been promising for weeks.

 

Instead, the president focused on what he called five “revolutions” in diverse areas to bring the government closer to its supporters among the poor and boost productivity.

 

“We must assume this new phase with strength,” he said.

 

Ramirez, who was expected to make a rare visit to Wall Street this month to meet with foreign investors, will be succeeded as head of PDVSA by engineer and career oilman Eulogio Del Pino. Del Pino has sat on the PDVSA executive board for more than a decade, and most recently served as vice president of exploration and production.

 

Asdrubal Chavez, an engineer and cousin of the late president, will step in as oil minister, while current Finance Minister Rodolfo Marco Torres, a low-profile army general, will take over Ramirez’s job as top economic policymaker.

Previous Post

Noble Energy to sell Leviathan gas to National Electric Power Company of Jordan

Next Post

DNV GL forms three JIPs for the offshore pipeline industry

Related Posts

Live Transmission System to Transport Hydrogen
Europe

SGN Uses Live Transmission System to Transport Hydrogen

September 6, 2025
Egypt commits 400m investment
News

Egypt Commits $400m Investment to Build a Gas Pipeline

September 4, 2025
First Arctic LNG 2 Gas Delivery
Gases

First Arctic LNG 2 Gas Delivery from Russia to China Starts

September 1, 2025
Major Energy Deals
News

Officials From Russia and The US Discuss Major Energy Deals

September 1, 2025
Arctic LNG 2 Project from Russia
Europe

Arctic LNG 2 Project from Russia Achieves Record Gas Output

September 1, 2025
US LNG exports
Gases

US LNG Exports Fuel Shale Gas Production Expansion

August 27, 2025
Next Post

DNV GL forms three JIPs for the offshore pipeline industry

LatestNews

Egypt commits 400m investment
News

Egypt Commits $400m Investment to Build a Gas Pipeline

September 4, 2025
First Arctic LNG 2 Gas Delivery
Gases

First Arctic LNG 2 Gas Delivery from Russia to China Starts

September 1, 2025
Major Energy Deals
News

Officials From Russia and The US Discuss Major Energy Deals

September 1, 2025
Arctic LNG 2 Project from Russia
Europe

Arctic LNG 2 Project from Russia Achieves Record Gas Output

September 1, 2025
US LNG exports
Gases

US LNG Exports Fuel Shale Gas Production Expansion

August 27, 2025
North Sea oil discovery
Exploration Development

Norway Uncovers North Sea Oil Discovery Amid UK Exploration Scrapped

August 27, 2025

About Us

Oil & Gas Advancement is a specialized platform delivering latest news and industry insights for the global oil and gas sector. Featuring market intelligence, expert opinions, events and updates, it serves as a trusted and strategic resource for industry stakeholders navigating energy transitions.

Subscribe Us

Resources

  • Advertise with us
  • Contact Us
  • Newsletter Archive
  • Download Mediapack

System

  • Search
  • Site Map
  • RSS Feed
  • Upstream
  • Pipelines & Transport
  • Downstream

© 2025 Copyright Valuemediaservices 2025 All rights reserved.

No Result
View All Result
  • Home
  • News
  • Projects
  • Whitepapers
  • Press Releases
  • Market Reports
  • Events
  • Contact Us

© 2025 Copyright Valuemediaservices 2025 All rights reserved.