By Andrea Perez-Sobers
Former Energy Minister Kevin Ramnarine says the ongoing political unrest in Venezuela would impact doing business with the country.
Speaking on the Morning Brew yesterday, Ramnarine said that state-owned National Gas Company (NGC) has a 30 year-licence with Venezuela state oil company PDVSA to develop the Dragon gas field with Royal Dutch Shell as the operator, and then the 20-year licence for the Cocuina/Manakin. “The reality is that you see what’s happening in Venezuela. I mean, even if things were to clear up across there, it still would be very difficult. The reports I’m hearing coming out of Venezuela, it’s very difficult to get things done. A lot of things don’t work,” he stressed. Ramnarine noted if he was sitting in government, he would not have put all his eggs in that Venezuelan basket, given what’s happening there.
“Also, we don’t know what’s going to happen with the US presidential election in November. You could have a change in administration.