The Petrolia Fund, established with the goal of “harvesting oil,” started a new phase in the Venezuelan economy by starting to trade on the Caracas Stock Exchange (BVC) on October 1.

The fund began trading on the BVC board with 18 million Class B shares, under the symbol PCP.B. The official launch took place on Monday, September 29.  “This is considered the first of its kind in the country, and its objective is to provide financing to companies that offer services to the hydrocarbon sector.”

The president of the Caracas Stock Exchange, José Grasso Vecchio, stated: “For us, it is excellent news to have them here. This is a company that emerged in the market, as a company in its growth phase, and today we see its listing on our board. So far this year, we have recorded growth in all four market segments. That is our goal: to promote the sector.”

The president of the Petrolia Fund, Álvaro Pérez, revealed that the country has the capacity to produce up to “3 million barrels per day” and emphasized the new company’s commitment to providing strategic support for the development of the oil sector.

M.Pino

Source: finanzasdigital

(Reference image source: Nicholas Cappello on Unsplash) 

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