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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 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.
The pipeline would pump gas from Colombia to Venezuela and, after 7 years, from Venezuela to Colombia. [15] Venezuela has also proposed the project of Gran Gasoducto del Sur, which would connect Venezuela with Brazil and Argentina. [16] There has been some discussion about constructing an oil pipeline to Colombia along the Pacific Ocean. [7]
[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]
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.
On January 28, 2019, the U.S. Government imposed sanctions on PDVSA, freezing its assets in the U.S., and barring any U.S. firms and citizens from doing business with it. [47] [48] [49] In February, Citgo cut ties with the PdVSA, and halted payments to them, placing them in a "blocked account". However, the sanctions limited Citgo's ability to ...
Oil and gas companies of Colombia (4 P) This page was last edited on 3 November 2019, at 00:01 (UTC). Text is available under the Creative Commons Attribution ...
By 2001, Pacific Rubiales' most valuable assets were the Rubiales (largest in Colombia) and Piriri oil fields in central Colombia which it operates through Meta Petroleum, a division of subsidiary Rubiales Holdings Limited (RHL). RHL has been 100% owned by pacific Rubiales since 2007 when it purchased the remaining 25% of outstanding shares. [21]