PDV Marina CVP Pequiven CIED PDVSA Gas PDV Deltaven Palmaven Electricidad de Caracas, C.A. (93.62%)[4] Citgo (100%)[5]
Website
www.pdvsa.com
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Petróleos de Venezuela, S.A. (acronym PDVSA, Spanish pronunciation:[peðeˈβesa]) (English: Petroleum of Venezuela) is the Venezuelan state-owned oil and natural gas company. It has activities in exploration, production, refining and exporting oil as well as exploration and production of natural gas. Since its founding on 1 January 1976, with the nationalization of the Venezuelan oil industry, PDVSA has dominated the oil industry of Venezuela, the world's fifth largest oil exporter.
Oil reserves in Venezuela are the largest in the world and the state-owned PDVSA provides the government of Venezuela with substantial funding resources.[6] Following the Bolivarian Revolution, PDVSA was mainly used as a vital source of income for the Venezuelan government.[7] Profits were also used to assist the presidency, with funds directed towards allies of the Venezuelan government.[7] With PDVSA focusing on political projects instead of oil production, mechanical and technical statuses deteriorated while employee expertise was removed following thousands of politically motivated firings.[7] Incompetence within the company has led to serious inefficiencies and accidents and to endemic corruption;[8] at least US$11 billion was stolen between 2004 and 2015. Jorge Giordani, minister of planning until in 2014, estimates that $300 billion was simply stolen.[9] In 2018 thousands of workers left PDVSA,[10] especially after the company was put under military control.[11]
^"Venezuela appoints alleged drug trafficker El Aissami as oil minister". Reuters. April 27, 2020. Retrieved April 28, 2018.
^ ab"Venezuela's PDVSA oil revenue tumbles amid lower prices, production". Reuters. August 12, 2017. Retrieved March 13, 2018.
^"PETRÓLEOS DE VENEZUELA, S.A. AND SUBSIDIARIES (PDVSA)" (PDF). PDVSA. Retrieved July 2, 2018.
^"Fitch Downgrades Ca la Electricidad de Caracas Edc Idrs to B; Outlook Stable :: Unternehmensnachrichten". Archived from the original on April 18, 2009. Retrieved February 1, 2009.
^"CITGO - About us". Archived from the original on August 22, 2018. Retrieved January 31, 2009.
^"Venezuela's oil industry: Up in smoke". The Economist. August 27, 2012. Retrieved September 24, 2012.
^ abcLópez Maya, Margarita (2016). El ocaso del chavismo: Venezuela 2005-2015. Editorial Alfa. pp. 349–351. ISBN 9788417014254.
^"Venezuela Inc., up in smoke". Globe and Mail. Toronto. September 17, 2012. Retrieved September 24, 2012.
^Cite error: The named reference NYRB was invoked but never defined (see the help page).
^Neuman, William; Krauss, Clifford (June 14, 2018). "Workers Flee and Thieves Loot Venezuela's Reeling Oil Giant". The New York Times. Retrieved June 15, 2018.
^Buitrago, Deisy (April 17, 2018). "Under military rule, Venezuela oil workers quit in a stampede". Reuters. Retrieved July 2, 2018.
Petróleos de Venezuela, S.A. (acronym PDVSA, Spanish pronunciation: [peðeˈβesa]) (English: Petroleum of Venezuela) is the Venezuelan state-owned oil and...
of Popular Power for Petroleum and President of Petróleos de Venezuela (PDVSA). In addition, from 2020 until 2023, he held the presidency of Petroquímica...
metropolitan area. The Caracas Stock Exchange and Petróleos de Venezuela (PDVSA) are headquartered in Caracas. Empresas Polar is the largest private company...
developed by PDVSA in cooperation with foreign partners. In all partnership PDVSA owns 60%. Junín block 1 was discovered in 2009 and developed by PDVSA. The oil...
Headquartered in the Energy Corridor area of Houston, it is majority-owned by PDVSA, a state-owned company of the Venezuelan government (although due to U.S...
2002–2003, which featured a strike by thousands of employees at PDVSA. The strike by PDVSA staff severely reduced oil production and exports, and cut domestic...
Venezuela's oil. PDVSA controls activity involving oil and natural gas in Venezuela. In 1980s, in an aggressive internationalization plan, PDVSA bought refineries...
2002 to February 2003, including a strike/lockout in the state oil company PDVSA. Capital flight before and during the strike led to the reimposition of...
claims. In 1986, it was leased to the Venezuelan PDVSA, and reopened on a limited scale. In 2017, the PDVSA was hit by punitive sanctions of the United States...
independence of PDVSA were met with strong resistance from PDVSA officials and managers.[citation needed] On 7 April, Chávez fired the President of PDVSA, Brigadier-General...
said he would be named by Juan Guaidó's administration to be president of PDVSA (Venezuela's state-run petroleum company). Raised in Caracas in a family...
as a result of United States sanctions on Venezuelan state oil company PDVSA. Following exploration off the coast of Venezuela, ConocoPhillips was awarded...
new ad hoc board of PDVSA, Citgo, Pdvsa Holding Inc, Citgo Holding Inc. and Citgo Petroleum Corporation. Although control of PDVSA assets in Venezuela...
States sanctions on the Venezuelan state oil company Petróleos de Venezuela (PDVSA) and following years of neglect, Nabarima fell into a state of disrepair...
is a subsidiary of the state-owned oil company Petróleos de Venezuela (PDVSA). The executives were arrested on November 21, 2017 and accused of signing...
Intevep, the Research and Development Affiliate of Petroleos de Venezuela SA (PDVSA), following earlier collaboration on oil emulsions with BP. Like coal and...
Islands. The refinery was a joint venture between Hess Corporation and PDVSA. For most of its operating life as Hovensa, it supplied heating oil and...
Caracas, it was confirmed that Venezuelan state-controlled oil company PDVSA would enter into a long-term sponsorship deal with the team, replacing outgoing...
Limited Oil & Gas Development Company Oil and Natural Gas Corporation Orlen PDVSA Pemex Pertamina Petrobangla Petrobras PetroChina Petronas Petrovietnam PTT...
scale never before seen at PDVSA". In 2016, it was revealed that from 2004 to 2014, $11 billion was funneled out of PDVSA, with billions of dollars "paid...
Archived from the original on July 1, 2015. Retrieved June 28, 2015. "PDVSA". www.pdvsa.com. Retrieved 2021-07-02. "Youthwork Links and Ideas: Youthwork Dates"...
Global Information
US$48.0 billion (2016)[2]
