The problem is that there are limited refineries that can process the heavy high sulfur crude that Hugo exports. It will take over 5 years if a crash program is initiated to move crude sales away from the current purchasers to China/Russia.

We'll have collected long before Hugo can accomplish that, and he cannot afford to just not export.

Take a look at the bottom of this article (the next to last pie chart):

http://205.254.135.24/emeu/cabs/Venezuela/Oil.html