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The Coordinadora Democrática, led by the business federation Fedecámaras and the trade union federation Confederación de Trabajadores de Venezuela (CTV), called for a fourth paro cívico, which turned out to be the most serious, and is known as the 2002–2003 oil strike, to begin on 2 December 2002.
Venezuela also has 150 trillion cubic feet (4.2 × 10 12 m 3) of natural gas reserves. The crude oil PDVSA extracts from the Orinoco is refined into a fuel eponymously named 'Orimulsion'. [12] PDVSA has a production capacity, including the strategic associations and operating agreements, of 4 million barrels (640,000 m 3) per day (600,000 m 3).
[3] [4] In February 2005, after a PDVSA subsidiary had taken a stake in the joint venture, the project again received approval. [3] ConocoPhillips was the operator of the field and owned 32.5% of the project, with PDVSA through subsidiary CVP holding 35%, Italian company Eni holding 26% and Taiwanese company CPC Corporation holding 6.5%. [2] [4]
On February 15, 2019, the Office of Foreign Assets Control (OFAC) of the United States Department of the Treasury announced that Manuel Quevedo, along with four other officials of the Government of Nicolás Maduro, was included in the list of those sanctioned by the North American body.
The refinery was a joint venture between Hess Corporation and PDVSA. For most of its operating life as Hovensa, it supplied heating oil and gasoline to the U.S. Gulf Coast and the eastern seaboard with the crude mainly sourced from Venezuela. Previously it had sourced its crude feedstock from a number of other countries including Libya.
The U.S. imposed additional sanctions on PDVSA on 28 January 2019 to pressure Maduro to resign during the 2019 Venezuelan presidential crisis. [93] [94] The sanctions prevented PDVSA from being paid for petroleum exports to the U.S., froze $7 billion of PDVSA's U.S. assets and prevented U.S. firms from exporting naphtha to Venezuela. Bolton ...
After Venezuela nationalized the oil industry in 1975, PDVSA assumed ownership of San Tomé. The town was a thriving business center because of PDVSA. On 18 September 2006 Venezuela's President Hugo Chávez and Iran's President Mahmoud Ahmadinejad inaugurated a joint oil drilling operation with PDVSA and Iran's Petropars in San Tomé. [21]
Rafael Darío Ramírez Carreño (born August 4, 1963) is a Venezuelan engineer, politician, and diplomat.He joined the board of Venezuelan state-owned petroleum company PDVSA in 2002 and served as company president from 2004 to 2014.