Maduro Orders State-Run Firm to Sell 4.5M Oil Barrels for Petro

Cointelegraph

Published Jan 15, 2020 07:55AM ET

Updated Jan 15, 2020 09:42AM ET

Maduro Orders State-Run Firm to Sell 4.5M Oil Barrels for Petro

Venezuela will soon sell oil from reserves of a state-run oil and gas company for its national oil-pegged cryptocurrency, the Petro (PTR).

Venezuelan President Nicolas Maduro has signed a decree to sell 4.5 million barrels of oil from the certified 30 million-barrel reserve maintained by Petroleum of Venezuela (PDVSA), the state-owned company officially announced on Jan. 14.

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