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Venezuela Proposes Main Overhaul of Power Sector

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Venezuela’s authorities is proposing a sweeping overhaul of its vitality trade, scaling again the function of the state and handing over larger management to non-public corporations in an effort to spice up plummeting oil output, based on a authorities presentation.

The proposal, which was compiled final month by a particular restructuring committee appointed by President Nicolás Maduro, comes as corruption and mismanagement have crippled nationwide oil monopoly Petróleos de Venezuela SA, or PdVSA. A raft of U.S. sanctions extra lately have…

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