Houston, Texas-based oil giant Chevron is transferring joint venture control to its partner, state company PDVSA, while maintaining a staff presence in Venezuela.

Venezuela has increased crude shipments to China amidst the tightening of US sanctions against the oil industry.

However, to gain a real appreciation of the depths of Venezuela’s socialist disaster, we must look under the hood of Petróleos de Venezuela (PDVSA), Venezuela’s state-owned oil giant.

The deals are part of President Nicolás Maduro’s plan to replace Western oil companies after US sanctions ended their ...

During the Venezuelan general strike of 2002–2003, Chávez fired 19,000 employees of the state oil company Petróleos de Venezuela, S.A. (PDVSA) and replaced them with employees loyal to his ...

Jan 11 (Reuters) - Venezuela's oil ministry instructed most corporate employees of state-run PDVSA (PDVSA.UL) and its subsidiaries to work from home beginning Jan. 8 to avoid the rapid spread of ...

Spain ceased all crude oil imports from Venezuela in April due to upcoming U.S. sanctions requiring foreign companies to halt ...

Bondholders who choose not to participate in PdVSA’s $5.3 billion exchange offer “are playing a dangerous game they can end up losing,” Eulogio del Pino, the president of the firm ...

One of the largest holders of the 2020 bond issued by Venezuelan oil company PDVSA is bracing for a possible default later this month on what is the country's last debt security to remain current ...

Venezuela's oil exports remained almost unchanged last month as increased shipments to customers in China offset a decline in U.S.-authorized sales, according to vessel-tracking data and internal ...

PdVSA, Venezuela’s national oil company, is expected to offer bondholders $7 billion in new bonds Wednesday in exchange for existing debt, an effort to ease a cash-flow squeeze.

Since the early 1980s, Petróleos de Venezuela SA (PDVSA) has been working on the technique for dispersing natural bitumen in water in order to commercialize the vast reserves existing in ...