PDVSA Russia Subsidiary Participates in the opening of the 'IX OPEC MODEL' at MGIMO University

Moscow. The CEO of the PDVSA Russia subsidiary, Hoglys Martínez, participated together with the Ambassador of the Bolivarian Republic of Venezuela to the Russian Federation, Jesús Salazar, in the Opening of the IX OPEC Model, organized by the International Institute of Energy Policy and Diplomacy of the prestigious MGIMO University.

This event was opened by the Institute's director and professor, Valery Salygin, and was attended by the director of International Cooperation of the Russian Ministry of Energy, Dmitry Semenov; the deputy permanent representative of Russia to international organizations in Vienna, Sergey Federyakov; among others.

This OPEC Model seeks to strengthen Russian students' knowledge of the structure, dynamics and scope of the main international organization of oil exporting countries and particularly, to understand the functioning of the OPEC+ Agreement in which Russia played a key role.

Likewise, the audience was interested in Venezuela's position as ideologist and founder of this institution.

In his speech, the Venezuelan Ambassador, Jesús Salazar highlighted the diplomatic leadership of Commander Hugo Chávez to rescue OPEC with the 2nd Summit organized in Caracas in the year 2000, as well as the role of President Nicolás Maduro in the articulation of the OPEC+ Agreement.

It should be noted that the People's Minister of Petroleum and President of PDVSA, Pedro Rafael Tellechea, stated at the last meeting of the Joint Ministerial Follow-up Committee that in OPEC "we evaluated the conditions of the oil market and reinforced the consensus for a balanced framework between production levels and prices in order to strengthen energy stability".

MGIMO University proposed to organize a conference in its premises as part of the celebration of the 5th Anniversary of the establishment of the PDVSA Russia subsidiary in Moscow.