Chavez Oil | Oil Companies Venezuela
    Site written by
Edoardo Salazar

Page Index A to Z

Main Pages

Hugo Chavez
   Hugo Chavez History
   Chavez Venezuela

Oil Prices
Venezuela Government

Venezuela Oil Companies
   Exxon Mobil
   Conoco Phillips
   Royal Dutch Shell
   BP Oil
   Total SA

Venezuela News Archive
Venezuela Oil
Oil Negotiations Orinoco

Contact us

Oil Companies VenezuelaVenezuela Oil Companies - Oil Companies Venezuela gathers information about major oil and gas companies with operations in petroleum exporter country that has been affected by Hugo Chavez socialist politics.

Petroleos de venezuela president (Click to enlarge)
Petroleos de Venezuela - Minister Ramirez

PDVSA is the stand for Petróleos de Venezuela S.A., a state-owned oil company that dominates the oil, gas and energy industry of Venezuela, and has been politized by President Chavez.

Petroleos de Venezuela

PDVSA is the Venezuelan state-owned oil company. It has activities in exploration, production, refining and exporting oil, as well as exploration and production of natural gas. PDVSA dominates the oil industry of Venezuela, the world's fifth largest oil exporter.

Venezuela has 3.2 trillion barrels of oil reserves. This puts Venezuela as fifth in the world in proven reserves of conventional oil. By also including an estimated 235 billion barrels of tar-like extra heavy crude oil in the Orinoco Belt region, Venezuela claims to hold the largest hydrocarbon reserves in the world. Venezuela also has 150 trillion cubic feet of natural gas reserves. Wikipedia

Pdvsa logo (Click to enlarge)


Over the six decades which separate the discovery of that first giant oil field (1914) from the legal ending of the hydrocarbons concessionary regime (1975), petroleum was present in the life of Venezuelans as the most dynamic, determinant and decisive element in the political, economic and social transformation experience by the country.

On December 31 1975, the government of President Carlos Andrés Pérez ruled the nationalization of oil industry in Venezuela, then Petroleos de Venezuela SA (PDVSA) was found. On 1st January 1976, the properties, plants and equipment of the foreign concessionary companies, as well as the modest assets of the Venezuelan oil companies, became the property of the state. The Republic of Venezuela, from that moment on, and acting through a group of its own companies, plans, decides, finances, executes and controls each and every one of the activities pertaining to its oil industry.

Additional information about gas and oil history in Venezuela in Alexander's Gas & Oil Connections.

Petroleos de venezuela (Click to enlarge)
Petroleos de Venezuela

Chavez OilChavez Oil - Site based on "Chavez Oil", i.e. the oil situation in Venezuela under Hugo Chavez's government. Information on the oil companies that got nationalized and which didn't and more. CITGO, Exxon Mobil, Hugo Chavez's history...

The most relevant links we could find, placed here free

PDVSA - Official site of Petroleos de Venezuela SA oil company. History, latest news and corporate information. www.pdvsa.pdv.com

Alexander's Gas & Oil Connections - The history of Venezuela and its oil. www.gasandoil.com

Wikipedia - Information about Petroleos de Venezuela SA oil company. en.wikipedia.org

BBC News - News report about the politization of PDVSA oil company. news.bbc.co.uk

Gas and Oil - Information about corruption in Petroleos de Venezuela oil company, by Gustavo Coronel. www.gasandoil.com

PDVSA and President Chavez:

The Venezuelan government of Hugo Chavez has reduced Petroleos de Venezuela's previous autonomy and amended the rules regulating the country's hydrocarbons sector. In 2001, Venezuela passed a new Hydrocarbons Law that superseded the previous 1943 Hydrocarbons Law and 1975 Nationalization Law.

In 2002, many of PDVSA's managers and employees locked out workers to pressure Venezuelan president Hugo Chávez to call early elections, and virtually stopped oil production for 2 months. President Chavez fired 18,000 employees (on public television using a whistle) alleging they were "coupist". Chavez reestablished production with employees loyal to the Chávez government. Since then, Venezuela's government has been using a software with a database of persons who signed out a petition for a recall on Chavez presidency to sack workers in PDVSA. President Chavez ordered a change on the company's logo to use the red color that has been using on everything involving Venezuela's State.

Pdvsa 2002 oil strike (Click to enlarge)
PDVSA - 2002 oil strike

In 2007, Chávez announced a new nationalization of the oil industry. The foreign oil companies were forced to sign agreements giving majority control of hydrocarbons projects to PDVSA. Projects owned by companies like ConocoPhillips and ExxonMobil, who failed to sign these agreement, were took over by Petroleos de Venezuela.

Pdvsa refinery (Click to enlarge)
PDVSA refinery

Opposition leaders in Venezuela have been accusing current Petroleos de Venezuela's President Rafael Ramirez (also Ministry of Oil and Energy) to has started a new era of corruption in the oil company. Minister Ramírez, provoked in 2006 several protests when he told state oil workers to back President Hugo Chávez on presidential elections or leave their jobs. He said: "PDVSA is red, red from top to bottom". National Electoral Council fined Minister Ramirez for saying that. More about this scandal on BBC News.

Fair use in PDVSA logo
Though the image is subject to copyright, its use is covered by the fair use laws because the image is used as the primary means of visual identification of the topic.

Site structure created by Neil Villette Site written by Edoardo Salazar