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Topic: Petroleos de Venezuela

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	Edwin Koopman - journalist - Wie de olie heeft, heeft de macht
		Maracaibo, de tweede stad van Venezuela aan het gelijknamige meer in het hete noordwesten, is normaal een levendige stad.
		Chávez heeft alle vluchten boven het meer verboden.
		Inmiddels is de vraag wie nu verantwoordelijker is voor de ondergang: Chávez of de stakers.
	www.edwinkoopman.nl /artikelen/artikel_11.htm (1675 words)

	The Standard - CNPC signs Venezuela oil accord - Business Section
		A Petroleos de Venezuela spokesman said the venture would be the first exploration and production project under the country's new hydrocarbons law, which stipulates majority control of such ventures by the Venezuelan company.
		Petroleos de Venezuela in January offered CNPC the Zumano fields, which are now producing about 25,000 barrels of oil a day.
		Venezuela said Monday that it expects its oil exports to China to soar to 300,000 barrels a day by 2012 from the current level of 68,800 barrels.
	www.thestandard.com.hk /stdn/std/Business/GH27Ae12.html (425 words)

	Petroleos de Venezuela's financial formula: I+LT=C \| www.vcrisis.com
		Gone are the days in which Petroleos de Venezuela rendered clear account of its financial situation.
		This is totally unexplainable, that the president of Venezuela, the president of the company and the vice-president of the country would have three different sets of figures, none of which is identical to the one presented in the publication accompanying the emission of bonds by the company.
		In Venezuela this is not possible because the Chavez regime controls all political and administrative organisms in the country.
	www.vcrisis.com /index.php?content=letters/200704111817 (906 words)

	El veraz - San Juan, Puerto Rico: Cartas de Cuba
		De esta forma, cuando se programan para cocinar, sólo mantienen los alimentos calientes y viceversa: cuando lo que se quiere es conservar la temperatura del producto que guardan, la olla cocina.
		De las más de 12 mil hectáreas afectadas, un 54 por ciento corresponde a bosques naturales, pero el daño no se limita sólo al aspecto económico, ya que se observan pérdidas de la bio-diversidad en estos sitios, así como la erosión de los suelos y contaminación del agua y el aire en las zonas afectadas.
		Luego de constantes quejas y desfavorables estados de opinión, la dirección del gobierno y el partido comunista en Cienfuegos decidieron destinar a la población pequeñas cantidades de productos como yogur y requesón de soya, patas y panza de res y masa de chorizo, reservas que se agotaron en apenas 40 minutos.
	www.elveraz.com /cartas.htm (8311 words)

	General information about Venezuela - Backpacker Tours
		Venezuela borders Brazil to the south, Guyana to the east, and Colombia to the west.
		Venezuela is subdivided into 23 states (estados), a Capital District (Distrito Capital) correspondent to the city of Caracas, and the Federal Dependencies (Dependencias Federales).
		Main article: Geography of Venezuela Venezuela is home to a wide variety of landscapes, such as the north-easternmost extensions of the Andes mountains in the northwest and along the northern Caribbean coast, of which the highest point is the Pico Bolívar at 4,981 m.
	www.venezuela-tours.de /en/general_info_venezuela.htm (2360 words)

	US-Venezuela Gas
		Venezuela and Brazil complained to the GATT that such base lines were discriminatory to foreign producers.
		In the GATT case, Petroleos de Venezuela (PDVSA), the Venezuelan National oil company, contended that the EPA's reformulated gasoline regulation did not apply to domestic reformulated gasoline and thus was discriminatory.
		Officials of Venezuela's state-owned oil company objected and filed a complaint with the Secretariat of the General Agreement on Trade and Tariffs (GATT), claiming that the U.S. was using environmental rules to gain an unfair and discriminatory trade advantage.
	www.american.edu /TED/esp/venezuela-WTO.htm (1275 words)

	CITGO.com, About CITGO, PDVSA Profile
		Venezuela has the largest hydrocarbon reserves in the Western Hemisphere, representing approximately half the region's reserves, which positions the country as fifth in the world in proven reserves.
		PDVSA is among the leading corporations in the refining business, with a petroleum processing capacity of 3,285,000 barrels a day (1,285,000 barrels a day in Venezuela and 2 million barrels a day outside the country) through 24 refineries: six complexes in Venezuela, one in the Caribbean, eight in the United States and nine in Europe.
		PDVSA is genuinely committed to Venezuela's social and economic development, and is especially active in projects focused on health, education, environment, and local economy.
	www.citgo.com /AboutCITGO/PDVSAprofile.jsp (319 words)

	THE STEEL DEAL: Bad Business
		Petroleos de Venezuela SA, South America's largest oil company, said it spent more on social programs than its oil and natural gas businesses last year, continuing a trend that started in 2004.
		Caracas-based Petroleos de Venezuela said in an announcement appearing in the country's newspapers that it spent $6.9 billion on social programs last year.
		Petroleos de Venezuela said yesterday that Venezuela's total average output last year was 3.27 million barrels a day.
	steelturman.typepad.com /thesteeldeal/2006/10/bad_business.html (800 words)

	Venezuela's oil output will take months to recover
		Petroleos de Venezuela produced three million barrels of petroleum a day before the walkout, which made it the world's fifth-largest oil producer and the fourth-largest exporter to the U.S. Although the strike is continuing, analysts said the company has restored output to about 1.4 million barrels daily.
		In his zeal to root out disloyalty and create a leaner Petroleos de Venezuela, Chávez has dismissed nearly 12,000 of the company's 40,000 employees, and striking workers said their replacements are failing to do the job.
		Venezuela's failure to restore normal operations at its five refineries has created severe domestic gasoline shortages that have led the country to buy the fuel from Europe and the U.S. -- gasoline that normally would be produced and stored to prepare for the U.S. summer driving season.
	www.bradynet.com /bbs/venezuela/100048-0.html (3175 words)

	Venezuela Oil Company to Sell Citgo Assets
		Venezuela's state-run oil company Petroleos de Venezuela is preparing to sell its Citgo refining operations in the United States within two years, an oil ministry official said Tuesday.
		Venezuela is the world's fifth largest oil exporter, a top crude supplier to the United States and a founding member of the Organization of Petroleum Exporting Countries.
		Venezuela is the U.S.'s fourth-largest oil supplier (15% of U.S. imports), a nearby and reliable source that few in Washington want to alienate.
	www.fromthewilderness.com /free/ww3/020405_venezuela_oil.shtml (1709 words)

	Contributing to Petroleos de Venezuela
		Venezuela's President, Hugo Chávez, decreed that as of May lst, 20 percent of their interests in Orinoco River basin projects belong to PDVSA.
		Throughout the history of Venezuela, successive governments have chosen to utilize western dollars, invested or borrowed, to explore for, pump, develop and refine the country's oil.
		In 1991, after Venezuela obtained its multibillion-dollar-U.S. Treasury-sponsored debt forgiveness agreement, the state-owned oil monopoly paid $100 million for Seaview, New Jersey's refinery and entered into a joint venture with a subsidiary of Italy's Eni to refine and distribute petroleum in Europe.
	foreigndebtforgiveness.com /Default.html (1269 words)

	Petroleos De Venezuela (PDVSA) In 2003 - Thunderbird
		Petroleos De Venezuela (PDVSA) In 2003 - Thunderbird
		This case, which provides data on both the firm known as PDVSA and the country of Venezuela, is designed to allow the student to gain a broad, albeit rudimentary, understanding of both the firm and the country.
		Along the way, side trips can be taken into subjects such as: how much (separate) decision-making ability should reside at the firm (as opposed to the central government) level; how Venezuela found itself in the turmoil of 2002 and 2003; and whether foreign-based firms should avoid business in Venezuela.
	www.thunderbird.edu /about_thunderbird/case_series/2003/_03-0019.htm (235 words)

	petroleumworld
		Petroleos de Venezuela is being milked by Hugo Chavez to provide money for the numerous social programs that he improvises, as he goes, during his TV show “Alo Presidente”.
		He is already spending more money that he is being given and, as a result, he is resorting to the use of the oil company as a vehicle for government indebtness, in the same manner the Mexican corrupt political establishment of the 1960’s and 1970’s abused PEMEX, eventually producing its financial collapse.
		What is taking place at this very moment in Venezuela and in PDVSA is the unfolding of a major financial crisis, the product of the disastrous, unchallenged, decisions of one man and of the cowardice, ineptitude and corruption of his management team.
	www.petroleumworld.com /Ed07032701.htm (736 words)

	AxisofLogic/ Bolivarian Republic of Venezuela
		A former director of Venezuela's state-owned oil company, Petroleos de Venezuela, and a Chavez critic, Jose Toro Hardy, says China is unlikely to replace the United States as the nation's prime customer.
		Chinese companies in partnership with Petroleos de Venezuela are investing $330 million to produce 6.5 million metric tons of Orimulsion annually by the end of this year.
		One constraint on Venezuela is the fact that a large part of the oil it sends to the United States goes through Citgo, a U.S.-based refining and distribution company that is a subsidiary of the Venezuelan state-owned oil company.
	www.axisoflogic.com /cgi-bin/exec/view.pl?archive=74&num=12354 (815 words)

	Venezuela’s Oil-Based Economy - Council on Foreign Relations (Site not responding. Last check: )
		Venezuela’s ambassador to the United States, Bernardo Alvarez Herrera, writes in Foreign Affairs that the non-oil sector, which includes mining, manufacturing, and agriculture “has been growing faster than the oil sector,” but this is challenged by experts such as Miguel Tinker-Salas, professor of Latin American history at Pomona College.
		Vicente Frepes-Cibils, lead economist for Venezuela at the World Bank, says “Venezuela will continue to be a key player in the US market.” He argues that in the short term it will be very difficult for Venezuela to make a significant shift in supply from the United States.
		Venezuela and Bolivia signed agreements in January and May 2006 for Venezuela to supply preferentially priced diesel and invest $1.5 billion in the Bolivian oil and gas sector in exchange for Bolivian goods and services, according to Oxford Analytica.
	www.cfr.org /publication/12089 (1972 words)

	Petróleos de Venezuela S.A.
		Venezuela, unlike the Middle East or Iran, devised a concessionary system whereby most oil companies could operate, regardless of nationality, and production costs were much lower than in the United States, which accounted for 70 percent of total world oil production at the time.
		Venezuela's move toward controlling its oil industry took a significant step in 1943, when the new hydrocarbon law integrated all oil legislation.
		CVP was to operate in competition with foreign concessionaires in the country and was to be the official instrument of the country's petroleum policy.
	www.referenceforbusiness.com /history/Pa-Ql/Petr-leos-de-Venezuela-S-A.html (3719 words)

	The Nassau Guardian Online Guide
		Aug. 30 (Bloomberg) -- Petroleos de Venezuela SA, the state oil company, may reactivate its mothballed refinery in The Bahamas, taking advantage of strong demand for refined products, a minister from the island country said.
		Petroleos de Venezuela is interested in either reopening the refinery, located on Grand Bahama Island, or dismantling part of it and erecting a smaller facility in its place, Bahamas Trade and Industry Minister Leslie Miller said in an interview Friday after an energy conference in Montego Bay, Jamaica.
		Petroleos de Venezuela acquired the refinery when it bought the Bahamas Oil Refining Co. in 1990 for $103 million as part of a strategy to market more crude oil in the region.
	www.thenassauguardian.com /business/292058453817328.php (200 words)

	China, Venezuela firms to co-develop oilfields
		State oil companies from China, the world's second-largest oil importer, and fifth-largest exporter Venezuela are strengthening their partnership by co-investing in oilfields in the South American country.
		Venezuela plans to spend US$56 billion from 2006 to 2012 to double its oil production to 5.1 million barrels a day from the current 2.6 million barrels per day.
		Venezuela said last week that it expects to export 300,000 barrels of crude a day to China by 2012 from the current level of 68,800 barrels a day.
	www.chinadaily.com.cn /english/doc/2005-08/27/content_472663.htm (475 words)

	Venezuela
		Venezuela, Colombia, Panama, and Ecuador, were part of the Republic of Gran Colombia until 1830, when Venezuela broke-off to become and independent state.
		Venezuela is a minor producer of illicit drugs, however drug cartels in neighboring Colombia ship narcotics through Venezuela and are active in narcotics-related money-laundering activity in the Colombia border regions and on Margarita Island.
		In April 2000, Venezuela's President decreed a new mining law, and regulations were adopted to encourage greater private sector participation in mineral extraction.
	www.flashpoints.info /countries-conflicts/Venezuela-web/Venezuela_briefing_main.htm (1295 words)

	Bloomberg.com: Latin America (Site not responding. Last check: )
		Petroleos de Venezuela said in an afternoon press statement that the total payment was $860 million.
		Venezuela adopted foreign exchange restrictions in January and February 2003 to stop a run on the Bolivar that eroded international reserves.
		Petroleos de Venezuela had been due to make the payments on May 31, two months after the close of the quarter.
	quote.bloomberg.com /apps/news?pid=10000086&sid=aWdoTiRLf2Ys&refer=news_index (554 words)

	Bloomberg.com: Latin America
		Harvest Natural, which operates the field for Petroleos de Venezuela, said the suspension involves seven wells that the company had hoped to drill at the South Monagas field to boost output.
		Venezuelan Energy Minister and Petroleos de Venezuela President Rafael Ramirez has repeatedly stated the country wants to convert operating contracts, such as the one Harvest Natural holds, into joint ventures in which Petroleos de Venezuela would hold a majority stake.
		Harvest Natural is also in talks to form a joint venture with Petroleos de Venezuela to manage the Temblador and El Salto fields in eastern Venezuela.
	www.bloomberg.com /apps/news?pid=10000086&sid=aZBT52UsLQig&refer=latin_america (555 words)

	The Destruction of Petroleos de Venezuela (Site not responding. Last check: )
		In August 2003, its PDV America, Inc. has to pay off $500 million in maturing notes, which means Petroleos de Chavez will have to borrow, and borrow at higher rates, because PDVSA/Citgo’s former investment grade has been downgraded to a speculative grade, by Standard & Poor’s and by Moody’s Investors Service.
		Worse, Petroleos de Chavez in trying to restore oil production, with production in the newer free flowing fields, and they are over producing, i.e., wells that are supposed to produce 1,000 b/d are forced to produce 2,000 b/d.
		Venezuela, because of the planning and investments by PDVSA since nationalization, has the largest and one of the most complex refineries in the world.
	www.newsmax.com /archives/articles/2003/2/18/132004.shtml (3410 words)

	Oil Showdown Looms with Venezuela's Chavez - Empire? - Global Policy Forum
		Analysts say Venezuela could be setting the stage to produce much less oil in ventures with American oil companies for export to the United States.
		Venezuela is the fourth-largest supplier of oil to the United States, accounting for more than 10 percent of American oil imports.
		Petróleos de Venezuela's cash is said to be running short as Chávez uses its revenue to cement political alliances with Bolivia, Cuba and Nicaragua.
	www.globalpolicy.org /empire/challenges/general/2007/0410oilshowdown.htm (1476 words)

	VENEZUELA TODAY 2007 - Gustavo Coronel - ChÃ¡vez: An international campaign against PetrÃ³leos de Venezuela (Site not responding. Last check: )
		Chávez defends this arbitrary use of the money saying that it is being used in worthy programs, but he does not seem to understand that a democratic government has to be accountable to citizens and has to respect the laws of the country.
		The report adds that one of the contracting companies, Leomosca, had denounced this situation in an open letter to Chávez, stating that the level of employment on the Venezuelan oil industry had never reached the current level and that the contracting mechanisms were saturated with corruption.
		Octavio also mentions the renewed efforts by Venezuela to operate the Cienfuegos refinery, an obsolete and rundown installation built by Russia, when this country was the sugar daddy of Castro.
	www.venezuelatoday.net /gustavo-coronel/campaign-against-PDVSA.html (1654 words)

	americas.org - Venezuela threatens to take over oil fields (Site not responding. Last check: )
		State-run Petroleos de Venezuela SA plans to end all such operating contracts by the end of the year and will make no exceptions, Mr.
		Petroleos de Venezuela currently has 32 contracts with 22 companies that operate and manage oil fields for it.
		Petroleos de Venezuela will seek more than just majority control over the ventures, Mr.
	www.americas.org /item_22187 (448 words)

	Petroleos de Venezuela forcing workers to support Chavez \| www.vcrisis.com
		Petroleos de Venezuela forcing workers to support Chavez
		A leaked memo from Petroleos de Venezuela (PDVSA) containing 24 directives reveals that oil workers are forced to support Chavez and devote up to 20 hours a day to ensure the caudillo's reelection.
		If that weren't grave enough oil workers -conveniently dressed in red- are meant to adopt a vigilante attitude with those "not identified with the process" who will be "isolated and dismissed" (sic).
	vcrisis.com /index.php?content=letters/200610252226 (232 words)

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