According to Bloomberg, this project will be private to obscure investor’s potential discounts. It was set to start March 1 for institutional investors in about 38.4 million long presale of one month.
Its 100 million petros is ordered from Venezuelan leader Nicolas Maduro. As previously mentioned by CCN, Venezuela is ready to issue petro cryptocurrency through a token sale.
Source - https://www.ccn.com/venezuela-reveals-petro-will-erc-20-token-will-private-presale/