After qualifying as a “good trial” the payment of half petro as a bonus in Venezuela, Maduro announced the sale of oil in petros.
In an interview with Spanish journalist and professor Ignacio Ramonet on January 1, 2020, the national president, Nicolás Maduro said that this year the country’s oil production will be sold in petros. This was reported by the newspaper El Nacional, and was cited in turn by the Russian news agency Tass and the crypto media The Block.
Similarly, Maduro added that in addition to oil, they will also sell iron, steel, aluminum and gold, among others, in petros.
We are going to sell Venezuelan oil in petros. We are already selling iron and steel of Venezuela in petros. We also have a signed contract for sale of oil, steel, iron, aluminum and we will sell part of the gold production in petros.
The news wasn’t at all crazy, taking into account the recent announcements of the national president in relation to the petro and some background in this regard.
In November, I reported that the Venezuelan Government had allocated 30 million barrels of oil and another amount of briquetted iron to support the petro’s operations.
A year ago,former Minister of Petroleum, Rafael Quevedo, presented the petro to OPEC as the “digital currency for oil.” Quevedo said on that occasion that the petro was expected to be “the unit of account for marketing Venezuelan crude.”
A little further back, in May 2018, the Venezuelan government had offered India a 30% discount on the price of oil if it paid in oil. However, India said at the end of that month that it would not use petro for the oil trade with Venezuela.
I thank the journalist Ignacio Ramonet for his extraordinary interview to show Venezuela's reality. These are dialogues that mark this special moment of the beginning of a new year form the communicational and political points of view. A fraternal hug! pic.twitter.com/4nr4CYU93q
— Nicolás Maduro (@maduro_en) January 2, 2020