Ex-PDVSA President Speaks Out

The ex-president of PDVSA, retired General Guaicapuro Lameda said yesterday, " PDVSA should be run like a for profit business enterprise". Lameda held a press conference in his home, after receiving word from the press, that he had been granted his retirement from the Army. Lameda was replaced as PDVSA president earlier this month after he openly criticized the content of the newly approved hydrocarbons law and the nation's overall energy policy.

On Thursday Venezuelan Energy Minister Alvaro Silva said on a television program that "PDVSA is not just a pure mercantile business company" "PDVSA is the oil's operating arm of the Venezuelan state", we have to see PDVSA on a national developing role".

Gaston Parra was named by President Hugo Chavez as the fourth PDVSA president in three years' time. Parra, a 68-year old oil economics university professor, is likely to face heavy cutbacks in spending and strict compliance with OPEC output quotas.