Throughout 2012, and especially after President Hugo Chávez’ death in early March 2013, Venezuela’s national oil firm, Petróleos de Venezuela S.A. (PDVSA), has taken measures beyond anything done in the past decade to raise its lagging production. While the likely impact merits cautious analysis, the drivers of the Bolivarian Republic’s scramble for increased oil revenues are clear. …
This is the opening of an article I wrote for AMERICA’s QUARTERLY web exclusive. Continue reading it here at AS/COA’s AQ website.
ALSO: Here are three documents cited in the footnotes–from the 4th of six meetings between PDVSA and the Venezuelan private sector to boost oil production:
|PRESENTACION MESAS 4TA JORNADA ANZOÁTEGUI 11 Y 120613.ppt
1147K DOWNLOAD: Presentation …
1061K DOWNLOAD: Informacion …
|Resultados Consolidados Jornadas Realizadas Presentación Ministro RR.ppt
207K View DOWNLOAD: Resultados …
WIthout cash flow, having lost its credilibility before partners , service providers and probably customers, with most of its organizational brain gone , deviated of its core business and embebed in the ideological chavista disorder and mess , very little PDVSA can do to get out of the darkness in the short and medium term. At this time besides the approach to the private sector, PDVSA is releasing its operational and financial grip in the Joint Venture Companies (specially at Faja) in exchange for fresh money and knowledge to raise production. First was ENI (PetroJunin), then Chevron (PetroIndependencia,PetroBoscan) and Rosfnet and probably next will be Repsol (Petro Carabobo, PetroQuiriquri). .
Omar, You put it well. And, in addition to Eni, Chevron, Rosfnet and Repsol, CNPC as well.
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