name: Venezuelan Petroleum Company
Venezuelan Petroleum Company Petróleos de Venezuela, SA (PDVSA) is Venezuela’s state-owned oil and gas company. It is responsible for the exploration, production, refining and export of oil, as well as the exploration and production of natural gas. The company was established on January 1976. It is the fifth largest oil exporter in the world.
Venezuela has the largest oil reserves in the world. It provides a large amount of funds to the Venezuelan government, and the Venezuelan government uses it as a cash cow. From 2004 to 2010, the company contributed US$61.4 billion to Venezuela’s social development projects.
The Venezuelan Petroleum Company has 7.75 billion barrels of oil reserves and it is the largest oil reserve company in the Western Hemisphere. Venezuela also has 1.5 billion cubic feet (4.2×1012 cubic meters) of natural gas reserves.
Venezuelan Petroleum Company is headquartered in Caracas and Maracaibo, and its president is Eulogio Del Pino. In 2014, the company’s revenue was US$128.44 billion, net income was US$15.8 billion, and total assets were US$231.1 billion. 13)
The subsidiaries of Venezuelan Petroleum Corporation include:
PDV Marina Hotel
Venezuelan National Petroleum Corporation Natural Gas
Electricidad de Caracas, CA
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