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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 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 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 ...
The U.S. imposed additional sanctions on PDVSA on 28 January 2019 to pressure Maduro to resign during the 2019 Venezuelan presidential crisis. [105] [106] 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 ...
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 ...
On 7 April, Chávez fired the president of PDVSA, Brigadier-General Guaicaipuro Lameda Montero and replaced him with a former Communist Party militant, in addition to firing another 5 of the 7 members of the PDVSA board of directors on his Aló Presidente program, mocking each worker by name and using a referee whistle, as if to expel them from ...
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.
Nelson Martínez (15 July 1951 – 12 December 2018) was a Venezuelan politician who served as the Minister of Petroleum (2017) and President of PDVSA (2017). Martínez died due to health complications on 12 December 2018. [1]