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Venezuelan Oil Feels Negative Impacts on Production

Flavia Marinho
16-07-2018 15:37:52
in Uncategorized
Venezuelan Oil in Crisis

Venezuelan oil feels negative impacts on production and seeks alternatives to get out of the National crisis, which can cause socioeconomic problems in Brazil

Venezuelan oil export revenue is the strongest point of its economy, around 95%, as production stops growing and falls, automatically the entire economy collapses, causing unimaginable losses and putting the country in a state of alert. According to the Organization of Petroleum Exporting Countries (OPEC), the country is operating at a low level and is not expected to improve. The International Monetary Fund (IMF) stated that the Venezuelan economy has never been through a crisis so severe that it is being considered one of the biggest of the modern age. Incumbent President Nicolás Maduro issued a document authorizing PDVSA, the country's state-owned oil company, to increase production to the maximum, but due to the state's state of scrap, it does not have the technical conditions to explore the local oil reserves that are seen. as one of the biggest in the world.

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 Venezuelans seek refuge in Brazil amid humanitarian crisis

Venezuelans are seeking refuge in Brazil in the midst of the biggest humanitarian crisis in its history, refugees are arriving from all over with complete families claiming that in their country the salary is not enough to buy a packet of rice. Desperate people wanting to work to feed themselves and bring their children the basics that a person needs to survive. No one else can fit in Roraima, Boa Vista is overcrowded and every day it becomes unsustainable to keep the city balanced. In the capital Goiana, the number is already starting to rise, and all this because of the external economic problems that are beginning to reflect in Brazil.

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unemployment in Brazil

A survey by the Brazilian Institute of Geography and Statistics follows, “The unemployment rate for the quarter ended in March 2018 reached 13.1%, an increase of 1.3 percentage points compared to the last quarter of last year (11.8%). The total number of unemployed people also grew in the period, from 12.3 million to 13.7 million. There was an increase of 11.2% in this contingent, or another 1.4 million unemployed in the country”. We know that, mainly in the O&G sector, the number of unemployed in Brazil is also very high, we believe in the advancement of the National economy and in the organization of assets, which in this way will avoid in our country what is happening in Venezuela. Below is a link to the IBGE website detailing the above information.

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Flavia Marinho
Production Engineer post-graduated in Electrical Engineering and Automation. Experienced in the onshore and offshore shipbuilding industry. Get in touch for a suggestion of an agenda, disclosure of job vacancies or advertising proposal on our portal.