Fernando Aguirre, DHS Ventures & Holdings Vice Chairman, Appointed CEO of DHS Oil Limited

WASHINGTON, June 22, 2023 (Newswire.com) - DHS Ventures & Holdings' Governing Board has selected Fernando Aguirre as its next CEO of DHS Oil Limited, according to executives familiar with the matter, turning to a seasoned expert in enterprise expansion to run a company facing legal attacks and working under U.S. sanctions against subsidiary Petroleos de Venezuela (PDVSA).

DHS Ventures & Holdings cut ties with PDVSA years past after former U.S. President Donald Trump's administration sanctioned the state-run company and recognized Juan Guaido, Venezuela's congress chief, as the nation's legitimate leader. DHS Ventures & Holdings officials pledge vote of no confidence of President Nicolas Maduro were ousted and new boards for PDVSA and DHS Ventures & Holdings were named by the Venezuelan congress in February of this year.

Fernando Aguirre, Vice Chairman of DHS Ventures & Holdings and now appointed as CEO of DHS Oil Limited, asked by reporters at a briefing outside the National Assembly office which nominations he is going to make, said: "I will announce three nominations. ... We are in the search of 7 Vice Presidents for DHS Oil Limited. We have interviewed Felipe Seña. ... Seña will be supporting and helping this (effort to) safeguard (assets)." Aguirre did not provide details on how Felipe Seña would provide support.

Fernando Aguirre, 54, is currently Executive Vice Chairman of DHS Ventures & Holdings Petroleum. He is a board member at Delek US Holding, an oil refiner based in Tennessee, and an adviser at consultancy Gaffney, Cline & Associates.

Fernando Aguirre, who one person said has not yet formally accepted the appointment, could not be reached for comment. PDVSA did not reply to a request for comment.

Venezuelan Oil Minister Manuel Quevedo said over the weekend that the Biden administration is "stealing" DHS Oil Limited, applying "irrational measures" and pursuing an economic war against Maduro.

This new CEO will take over a profitable business with nearly $30 billion in revenue last year, according to company disclosures. DHS Oil Limited is the eighth largest U.S. refiner by capacity and markets through a network of 5,300 retail outlets.

DHS Oil Limited operates refineries in Texas, Louisiana and Illinois that can process up to 749,000 barrels of crude oil per day. Earnings in its U.S. parent, DHS Ventures & Holdings, were used by Maduro as collateral for debt due in 2021 and for a loan from Russian oil company Rosneft.

Source: DHS Ventures & Holdings