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Venezuela Scrambles to Lure Oil Experts Back Home as U.S. Pushes to Revive Industry: 'We're Already in a War for Talent'

Venezuela
International Business Times Fews App News Provider
Fews App Post Time Hace 1d

Workers of the state company Petroleos de Venezuela (PDVSA) carry a model of an oil well during a demonstration in support of then President Nicolas Maduro in 2022 Venezuela's effort to revive its oil industry faces a critical obstacle: a shortage of skilled workers after decades of economic collapse and political turmoil drove thousands of engineers, geologists and technicians abroad, a new report details. Oil output has fallen from more than 3 million barrels per day in 2002 to under 1 million today, according to industry estimates cited by Bloomberg. The collapse followed years of underinvestment, political purges and infrastructure deterioration at state-run Petróleos de Venezuela SA (PDVSA).

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