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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 government fired over 18,000 PDVSA employees and arrest warrants were issued for the presidents of the striking organizations. The main impact of the strike derived from the stoppage of the oil industry , in particular the state-run PDVSA , which provides a majority of Venezuelan export revenue.
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.
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.
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.
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.
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]
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 ...