- PETRÓLEO
PDV Marina crews idled the boats at the Tía Juana dock, and PDVSA retirees took over another dock and the company's headquarters in Maracaibo.
Salario según el sindicato: US$5 semanales · reclamo de los jubilados: US$700 M · Zulia: 370.000 b/d, meta de 400.000 antes de diciembre
affects PDVSA and the partners with fields on Lake Maracaibo
- TRABAJO
The government reviewed drafts on severance, year-end bonuses, working hours and job security at Miraflores with Fedecámaras, the country's largest business confederation, Fedeindustria and the labor federations.
Prestaciones: 30 días de salario por año de servicio · cifras de la propuesta: ninguna · fecha: ninguna
affects every employer with staff in Venezuela
- SERVICIOS PETROLEROS
Weatherford, SLB and Baker Hughes are posting jobs in Anaco, Maturín, Maracaibo and Caracas, with two drilling rigs active in the country.
Vacantes: SLB 35 · Weatherford 20 o más · Baker Hughes 12 · taladros por activar: 4 de Chevron
affects oil engineers and technicians, and producers waiting for rigs
On the lake and at Miraflores, the same sum is being argued over: how much of income is salary. In the public sector, most income arrives as bonuses that do not count as salary, and the labor law calculates severance on the last salary, at 30 days per year of service. PDV Marina workers want a salary tied to the basic food basket and want that law left alone; the Miraflores talks are reviewing both the conversion of bonuses into salary and the severance formula. If bonuses become salary under the current law, the liability of every employer with a long-serving workforce jumps at once, PDVSA's included. Who pays that difference will be set by the text of the instruments, once the government publishes it or sends it to the National Assembly.
Banks' net loan book totaled $4.123 billion at the end of September, 30% of their assets, with a delinquency rate of 1.08%.
Loans are granted in bolívares expressed in Credit Value Units, which adjust daily with inflation and the exchange rate. On Monday the 19th, Pedro Pacheco, president of the banking association, projected growth of close to 45% and said it could be higher, but that this requires monetary policies on legal reserve requirements and debt instruments. The current rule requires banks to set aside 73% of their bolívar demand and savings deposits as reserves. System profits rose 37% year on year through September to $545 million, and Banco de Venezuela took 46% of them.
PDV Marina workers began a sit-down strike in Tía Juana, on Lake Maracaibo, on Monday, October 19, and PDVSA retirees took over another dock and the Maracaibo headquarters.
Crews from PDV Marina, PDVSA's maritime subsidiary, declared a sit-down strike at the Tía Juana dock on Monday, October 19: no boat would leave. Retirees took over the Urdaneta dock in Ciudad Ojeda and the gates of PDVSA's Maracaibo headquarters. Iván Freites, secretary general of the oil workers' union Sutpgef, put wages at five dollars a week. They want a salary indexed to the basic food basket, a collective contract, union elections, payment of the pension fund and no changes to the labor law. PDVSA published no response on Monday on its official channel.
Sutpgef — vía Runrunes ↗Salario según Sutpgef: US$5 semanales · reclamo de los jubilados: US$700 M para unos 45.000 · Zulia: 370.000 b/d, meta de 400.000 antes de diciembre · muelles: Tía Juana, Urdaneta, La SalinaPDV Marina's launches and tugboats serve PDVSA's operations on the lake, the basin its president, Héctor Obregón, wants to bring to about 400,000 barrels a day before the end of December. Delcy Rodríguez put Zulia's output at 370,000 on Saturday the 17th: about 30,000 more are needed in ten weeks.
Retirees claiming the pension fund, about $700 million for some 45,000 people according to their spokespeople: with active crews on strike, the claim reaches operations.
PDVSA and its Zulia target: the strike halts part of the water transport for its lake operations, and there is no figure yet for its effect on output.
INDICADORBoats leaving Tía Juana again, and PDVSA answering with a payment schedule for the pension fund. · Desde el martes 20; los jubilados anunciaron protestas diarias hasta obtener ese calendario.
The government reviewed drafts on severance, year-end bonuses, working hours and job security with Fedecámaras, Fedeindustria and the labor federations at Miraflores on Monday, with no figures.
Acting President Delcy Rodríguez led a meeting at Miraflores on Monday the 19th with Fedecámaras, the country's largest business confederation, Fedeindustria, the small and mid-sized industry group, and the labor federations. According to the Communications Ministry's note, they assessed the conversion of income into salary, pay scales and job security, and reviewed drafts on working hours, year-end bonuses, vacations, severance and seniority premiums. Vice President for the Economy Calixto Ortega and Labor Minister Carlos Alexis Castillo attended. The note gives no figures and no date.
Presidencia de Venezuela — Ministerio de Comunicación ↗Prestaciones: 30 días por año al último salario (art. 142, LOTTT) · salario de US$200 y 10 años: ≈US$2.300 · salario mínimo: Bs 130 · cifras de la propuesta: ningunaThe labor law calculates severance on the last salary, including every salary item, at thirty days per year of service, and the worker collects the larger of that figure and the amount on deposit. Bonuses that do not count as salary, which make up most public-sector income, are left out of that base. On a $200 salary, ten years of service add up to about $2,300 in severance under the legal minimums; on the 130-bolívar minimum wage, less than two.
Long-serving workers: if bonuses become salary, their severance is recalculated in full on the new base.
Public and private employers with long-serving staff: under the current law, converting bonuses into salary lifts their severance liability at once.
INDICADORThe text of the instruments on salary conversion and severance, or their submission to the National Assembly. · Sin fecha; la nota habla de acuerdos alcanzados en sesiones anteriores.
Service companies Weatherford, SLB and Baker Hughes are posting dozens of jobs in Anaco, Maturín, Maracaibo and Caracas, in a country with two drilling rigs active in October.
Weatherford, which had scaled back in Venezuela in 2019, is advertising at least 20 openings, mostly in Anaco and Maturín, for operations supervisors, drilling specialists and engineers. SLB has 35 in Anaco, Maturín and Caracas, some open for about six months, and Baker Hughes a dozen in Maracaibo. Halliburton said in early October it is expanding its talent network in the country. Only two drilling rigs were active in October, according to Baker Hughes' count; Chevron is expected to activate four soon, and NABEP received two on October 13.
Reuters ↗Vacantes: SLB 35 · Weatherford 20 o más · Baker Hughes 12 · taladros de perforación activos en octubre: 2 · por activar: 4 de Chevron, 2 de NABEP · Patterson-UTI: componentes de 10Through the end of 2027, deployment will be mostly workover rigs to reopen and repair wells in mature fields, according to consultancy Welligence, which on that basis sees output rising from 1.2 million to about 1.5 million barrels a day by late 2027. Patterson-UTI, one of the largest U.S. land drilling contractors, is shipping components for ten older rigs.
Oil engineers and technicians in Anaco, Maturín and Maracaibo: three companies have at least 67 openings between them.
Producers that need to drill new wells to grow: through late 2027, the equipment arriving is mostly for workovers.
INDICADORThe count of active drilling rigs in Venezuela that Baker Hughes publishes and OPEC reproduces. · Informe mensual de la OPEP de noviembre, con el dato de octubre.