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On 29 August 1975, during the tenure of President Carlos Andrés Pérez, "Law that Reserves the Hydrocarbon Industry to the State" was enacted and the state-owned company Petróleos de Venezuela (PDVSA) was created to control all oil businesses in the Venezuelan territory. The law came into effect on 1 January 1976, as well as the ...
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).
The power sector in the Dominican Republic has traditionally been, and still is, a bottleneck to the country's economic growth. A prolonged electricity crisis and ineffective remedial measures have led to a vicious cycle of regular blackouts, high operating costs of the distribution companies, large losses including electricity theft through illegal connections, high retail tariffs to cover ...
Dominicana de Aviación was the national airline of the Dominican Republic for more than 50 years. This title was passed on to various other companies after Dominicana stopped flying. After operations at Dominicana de Aviación ceased, PAWA Dominicana became the flag carrier of the country in 2015. However, the airline ceased operation in ...
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.
[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]
Pedro Rafael Tellechea Ruiz (born 5 November 1975) is a Venezuelan military officer, politician, and mechanical engineer, who has held high government positions as Minister of Popular Power for Petroleum and President of Petróleos de Venezuela (PDVSA). In addition, from 2020 until 2023, he held the presidency of Petroquímica de Venezuela.
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