Upon declaring an "energy emergency," Venezuelan President Nicolas Maduro announced the creation of a new commission to shake up and revamp the country's state-owned oil company, Petroleos de Venezuela SA, Bloomberg reported Feb. 19. 

Venezuela: Maduro Declares Oil 'Emergency,' Creates Commission to Boost Production

Upon declaring an "energy emergency," Venezuelan President Nicolas Maduro announced the creation of a new commission to shake up and revamp the country's state-owned oil company, Petroleos de Venezuela SA (or PDVSA), Bloomberg reported Feb. 19. 

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Venezuela: Maduro Declares Oil 'Emergency,' Creates Commission to Boost Production

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