PDVSA 2011 Profit Fell to $3.71 Billion, National Assembly Says

Petroleos de Venezuela SA, the state oil company, had net income drop to $3.71 billion in 2011 from $3.72 billion the previous year, according to a report sent to Venezuela’s National Assembly.

PDVSA, as the Caracas-based company is known, saw revenue increase 35 percent to $127.9 billion last year from the year earlier, according to the unaudited annual report obtained by Bloomberg News today from the National Assembly.

PDVSA hasn’t yet released audited financial results for the year.

To contact the reporter on this story: Nathan Crooks in Caracas at ncrooks@bloomberg.net

To contact the editor responsible for this story: Dale Crofts at dcrofts@bloomberg.net

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