HALISTER: PDVSA Said to Be Preparing for Exit of President Del Pino

PDVSA Said to Be Preparing for Exit of President Del Pino

(Bloomberg) -- Venezuelan state oil company is preparing for president Eulogio Del Pino to leave his post by July, according to people familiar with the plans.
  • Oil Minister Nelson Martinez would take over as head of PDVSA and keep both titles, said the people, who requested anonymity because the information isn’t public
  • Del Pino previously held both PDVSA president and oil minister titles until January; Martinez was previously head of U.S. refining unit Citgo
  • PDVSA board was shuffled in January
  • Several refining managers have been replaced in recent weeks
  • NOTE: From March 20, PDVSA Said to Replace Refining Managers as Shakeup Deepens

Alert: HALISTER
Source: BFW (Bloomberg First Word)

Tickers
PDVSA VC (Petroleos de Venezuela SA)

People
Eulogio Pino (Petroleos de Venezuela SA)
Nelson Martinez (CITGO Petroleum Corp)

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