Vladimír Urbánek (Kurzy.cz)
Commodities  |  March 06, 2013 09:13:30, updated

Venezuelan President Chaves died, what will happen to the local oil?


According to agency reports, died yesterday Venezuelan President Hugo Chaves. Venezuela is among the world's largest producers and exporters of oil. So the question is whether and how to change the country's attitude to his surovinovému wealth. Chavez nationalized in the past, more than 1,000 enterprises operating in the country, including the key oil producers.

Vice President, Nicolas Maduro informed about the deployment of soldiers and police officers in the country, whose job is supposedly to ensure peace and security. Armed forces publicly declared their loyalty and věrnst government.

Leaving Chaves is an important moment not just for Venezelu latinskoamercký but also the entire world. Chaves made no secret of his antipathy towards the United States and generally "zpadnímu" arrangement of the developed world and world domination.

Chaves from oil sales funded project including extensive social and health care in the country.
Venezuelan oil price since his accession to power in 2008 increased about tenfold from the original about 9 USD per barrel to the current market value at the level of 126 USD per barrel.

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