Venezuelan president shakes up cabinet

Venezuela's Minister of Petroleum and Mining and president of the state owned oil company PDVSA, Rafael Ramirez, pictured in Caracas, on May 27, 2013Venezuela’s President Nicolas Maduro replaced Rafael Ramirez as head of the country’s state oil giant PDVSA and appointed him as foreign minister. Ramirez, who held the post for a decade, on Tuesday was also relieved of his role as the oil minister and vice president for economic policy, to become — in addition to top diplomat — political vice president. Venezuela has the world’s largest proven oil reserves and PDVSA is the world’s fifth largest oil company, but the Latin American country is facing a growing economic crisis.

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