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Venezuela's military is reportedly taking over the country's state oil giant

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Quevedos rise also highlighted the increasing power of the Venezuelan military, which has gained clout in Maduro's Cabinet and in key industries like mining and food distribution.



While military appointments had also been increasing in the oil industry, PDVSA so far had been led by chemist Nelson Martinez and the Oil Ministry by engineer Eulogio Del Pino.



The military has achieved its aim of controlling PDVSA. The forecast is somber, said Francisco Monaldi, a fellow in Latin American energy policy at the Baker Institute in Houston, echoing much of the mood in the local oil industry.



Quevedo also faces accusations from the opposition of violating human rights during the National Guard's handling of anti-Maduro protests.



U.S. Senator Marco Rubio, a vocal critic of Maduro, had included Quevedo on a 2014 list of Venezuelan officials who should be named in U.S. sanctions, although Quevedo does not appear in the list released by the U.S. Treasury Department.



This is a game changer for international oil companies. If political and reputational risk could get any higher for oil companies, this is it, said Raul Gallegos, an analyst with the consultancy Control Risks.



PDVSA is closely allied with Russian state oil giant Rosneft and state-owned oil major China National Petroleum Corp, although Western oil companies like U.S. major Chevron and France's Total also operate in Venezuela.





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