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Petro used in 4.5 million barrel exchange

Petro used in 4.5 million barrel exchange
By We Play Coins
Added on Jan 15, 2020

Petro used in 4.5 million barrel exchange according to the government of Venezuela. Petro is the cryptocurrency of Venezuela backed by Petroleum Oil prices.

During the presentation of the Report and Account corresponding to the year 2019, held before the National Constituent Assembly (ANC), the National President, Nicolás Maduro, decreed the mandatory and immediate fulfillment of the sale of 4.5 million barrels of oil in Petros, from the certified physical reserve of 30 million barrels currently held by Petróleos de Venezuela, SA (PDVSA).

Likewise, he instructed the owner of the state-owned oil company, Manuel Quevedo, that after the sale of these 4.5 million barrels, the regular offer in Petros of 50 thousand barrels per day, as an exploration mechanism, must be initiated until reaching the goal of selling all oil production in Petros.

To this set of decrees is added, the sale in Petro by PDVSA, of all gasoline for airplanes that cover international routes, through the Petro card, in convertible currencies (dollars, euros, yuan, rupee, rubles) . In this way, “we are opening roads to the new economy. We are building a world for the peace and integration of peoples, their happiness and improvement, ”he said.

He said that the consolidation of Petro is a solution for the people of Venezuela. “We are preparing for a second phase that will allow more efficient use of cryptocurrency,” he said.

Strategic Alliances

On the other hand, the Head of State indicated that thanks to the alliances established with national and international companies, “we have advanced timidly, but significantly, in the recovery of production. This is evidenced in the recovery from the end of September until today, of more than 230 thousand additional barrels that place us on the horizon of one million ”.

He also said that in 2020, oil production should reach a minimum of 2 million barrels per day.

He asked the oil working class and national and international companies and investors, their support for Venezuela to regain its productive capacity throughout the oil industry. “Let us place these riches at the service of the economic stability and social protection of our people, wealth that leverages, stabilizes and opens up new investment paths. We must generate alternative wealth to oil, we must overcome rentism to have a new economy, ”he stressed.

Recovery of political stability

During his speech, the constitutional president, Nicolás Maduro, highlighted the effort made by the Bolivarian Revolution to face the economic war orchestrated by the right and the US empire.

In the midst of adversity, the President mentioned the achievements in social, housing, education, food, health; as well as the plans devised for the protection of the victims of the economic war.

He indicated that it is important to agree on an agenda to recover political stability and defeat the actors that have been affecting it, because during the year 2019, the Venezuelan people have faced the toughest circumstances experienced.

“They have hurt us but the social model has been maintained and expanded in a scenario of restricting the entry of foreign exchange, sanctions, brutal theft of goods that only Venezuelans belong to. Our social model was put to the test and we were successful, ”he said.

The President assumed the important commitment to resume the path of economic growth for the satisfaction of the Venezuelan people, as well as relaunching in this first half, Petrocaribe, with all its mobilizing power, within the framework of the new Bolivarian Peace Diplomacy.