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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.
The country officially nationalized its oil industry on 1 January 1976 at the site of Zumaque oilwell 1 (Mene Grande), and along with it came the birth of Petróleos de Venezuela S.A. (PDVSA) which is the Venezuelan state-owned petroleum company. All foreign oil companies that once did business in Venezuela were replaced by Venezuelan companies.
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 ...
Pages in category "PDVSA" The following 15 pages are in this category, out of 15 total. ... This page was last edited on 8 January 2023, at 12:28 (UTC).
Puerto Miranda is an oil port situated on the east side of Lake Maracaibo in Venezuela opposite the city of Maracaibo and is operated by the Venezuelan State Oil Company (PDVSA PETROLEO, S.A.) [1] It is the largest crude oil export port in South America.
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.
Since president Hugo Chávez fired 18,000 PDVSA employees and replaced them with avowed loyalists of his own party, PDVSA has suffered from a series of safety and productivity problems. [7] [8] In 2003, two workers were injured in an explosion at an electrical substation at the Amuay refinery.
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.