PDVSA picks bank to help dump Citgo

PDVSA picks bank to help dump Citgo

CARACAS, Venezuela, Aug. 13 (UPI) --Venezuela's state-owned oil company has hired a French bank to help offload Citgo, its U.S. downstream entity, an executive at the company said.
Daniel J. Graeber
Eni nabs deal in giant Venezuelan gas field

Eni nabs deal in giant Venezuelan gas field

CARACAS, Venezuela, June 5 (UPI) --Italian energy company Eni said it signed an agreement to help develop the Perla gas field in Venezeula, one of the largest offshore finds in recent history.
Daniel J. Graeber

World Bank snubs Venezuela on oil dispute

WASHINGTON, March 13 (UPI) -- The World Bank said it won't reconsider Venezuela's request to review last year's decision against it for seizing assets of ConocoPhillips in 2007.

Fourth student killed in Venezuela protests

CARACAS, Venezuela, Feb. 18 (UPI) -- A crowd stopped Venezuelan forces from seizing an opposition official as a pro-regime oil worker drove into a rally, killing a student, witnesses said.

Venezuela to raise domestic gas prices?

CARACAS, Venezuela, Dec. 20 (UPI) -- Venezuelan President Nicolas Maduro signaled that he wants to raise gasoline prices, which are considered among the cheapest in the world at around 5 cents a gallon.

Venezuela and Italian company Eni inaugurate Junin 5 oil pipeline

CARACAS, Venezuela, Nov. 25 (UPI) -- Venezuelan officials and Italian energy company Eni inaugurated the first pipeline designated to take oil from the offshore Junin 5 field in Venezuela.

India's RIL to study Venezuelan oil potential

MUMBAI, Oct. 11 (UPI) -- Indian energy company Reliance Industries Ltd. said it signed an agreement to study the potential for an oil reserve area in Venezuela's lucrative Orinoco Belt.

Blaze out at Venezuelan oil refinery

CARACAS, Venezuela, Aug. 12 (UPI) -- No injuries were reported during a fire at one of the largest oil refineries in Venezuela, state energy company Petroleos de Venezuela said.

Caracas, Moscow lock step on energy

MOSCOW, July 3 (UPI) -- Investments between Russian energy company Rosneft and its Venezuelan partner envision at least $5 billion in one area alone, Venezuela's oil minister said.

Eni, Venezuela review oil, gas developments

ROME, June 18 (UPI) -- Italian energy company Eni said it was coordinating with Venezuelan officials on the progress at one of the largest offshore oil fields in the world.

Chevron, PDVSA shoot for higher production

WASHINGTON, May 30 (UPI) -- A $2 billion investment in onshore oil developments in Venezuela will help a recovery in production levels, Venezuelan Oil Minister Rafael Ramirez said.

Rosneft, PDVSA to work together in Venezuela

CARACAS, Venezuela, May 24 (UPI) -- State energy company Petroleos de Venezuela and Russian energy company Rosneft signed an agreement for a joint venture for Venezuelan operations.

Awash with cash, Petrobras aims to double in size in 7 years

RIO DE JANEIRO, May 15 (UPI) -- Ahead of this week's dramatic $11 billion bond sale that swelled its coffers, Brazil's state-controlled Petrobras predicts it will double in size in seven years.

Venezuela's Maduro accuses Capriles of plotting coup

CARACAS, Venezuela, April 17 (UPI) -- Venezuelan President-elect Nicolas Maduro blamed opposition leader Henrique Capriles for deadly street clashes and accused him of trying to stir up a coup.

Refinery leak fouls up New Orleans

NEW ORLEANS, April 5 (UPI) -- A minor incident at an oil refinery in Louisiana is believed to be the source of a strong odor noted near New Orleans, the U.S. Coast Guard said.
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Petróleos de Venezuela, S.A. (PDVSA, Spanish pronunciation: ) (Petroleum of Venezuela) is the Venezuelan state-owned petroleum company. It has activities in exploration, production, refining and exporting oil, as well as exploration and production of natural gas. Since its founding on 1 January 1976 with the nationalization of the Venezuelan oil industry, PDVSA has dominated the oil industry of Venezuela, the world's fifth largest oil exporter.

Between 2004 and 2010 PDVSA contributed $61.4 billion to social development funds. Around half of this went directly to various Bolivarian Missions, with the remainder distributed via the National Development Fund.

Venezuela has 77.5 billion barrels (1.232×1010 m3) of conventional oil reserves according to PDVSA figures, the largest in the Western Hemisphere and making up approximately half the total. This puts Venezuela as fifth in the world in proven reserves of conventional oil. By also including an estimated 235 billion barrels (3.74×1010 m3) 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.

This article is licensed under the GNU Free Documentation License.
It uses material from the Wikipedia article "Petroleos de Venezuela."
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