In addition petro oil support , they will also use iron. Maduro also launched Valeven, the 11th. crypto exchange of that country.
The petro is still news in Venezuela. The president of the nation Nicolás Maduro announced from the headquarters of the National Superintendence of Cryptoactive and Related Activities (Sunacrip) the issuance of a license of 30 million barrels of oil to support the Petro.
This was reported by the national media, adding that Maduro insisted that the token`s supported in a “tangible” way in the country’s oil reserves, mostly in the Orinoco Belt.
Petroleum for petro, also iron
Another 180,000 tons of certified briquetted iron were authorized to support petro’s operations, the president announced.
Petroleum and iron production to Petro
In September, according information , OPEC reported that Venezuela produced just 644 thousand barrels per day (19.32 million barrels per month), 10% less than in August. That would mean that according to Maduro’s announcement, the product of a month and a half of oil production is destined to be put in reserve in order to support the Petro.
It is important to remember that Venezuela is the country with the largest oil reserves in the world.