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Venezuela Proposes Major Overhaul of Energy Sector

Venezuela’s govt is proposing a sweeping overhaul of its power field, scaling back again the role of the point out and handing over increased manage to non-public companies in an energy to raise plummeting oil output, in accordance to a govt presentation.

The proposal, which was compiled very last thirty day period by a specific restructuring committee appointed by President Nicolás Maduro, arrives as corruption and mismanagement have crippled nationwide oil monopoly Petróleos de Venezuela SA, or PdVSA. A raft of U.S. sanctions additional just lately have…