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December 02, 2015 2:45 AM ET

Oil, Gas and Consumable Fuels

Company Overview of Petróleos de Venezuela S.A.

Company Overview

Petróleos de Venezuela S.A. engages in the exploration, production, refining, transport, and commerce of hydrocarbons in Venezuela. The company was founded in 1975 and is based in Caracas, Venezuela.

Edificio Petróleos de Venezuela

Avenida Libertador

La Campiña

Apartado 169

Caracas,  1050


Founded in 1975


58 212 708 4111


58 212 708 4661

Key Executives for Petróleos de Venezuela S.A.

Chairman of The Board of Directors, President and Chairman of Board Committee
Age: 59
Vice President of Finance, Internal Director and Member of Board Committee
President of Pdvsa Industrial and Executive Director of Automation, Information Technology & Telecommunications
Vice President of Economic Affairs
Age: 64
Executive Director of Finance
Compensation as of Fiscal Year 2015.

Petróleos de Venezuela S.A. Key Developments

Rosneft and PDVSA Sign Memorandum on Implementing Joint Projects

Rosneft and PDVSA have signed a memorandum formalizing agreements on the implementation of the Petromonagas, Petroperija, Boqueron, Petrovictoria, and PetroMiranda joint projects. The Memorandum also envisions the parties' intention to continue negotiations on increasing Rosneft's stake in the PetroMonagas project. The agreements demonstrate the quality of cooperation between Rosneft and PDVSA, which is manifested in ‘consistent development of strategic partnership between the companies’.

Rosneft and PDVSA Sign Joint Development of Srednebotuobinskoye Field

Rosneft and PDVSA signed at the St. Petersburg International Economic Forum a Memorandum regarding joint projects of the two companies in Venezuela, The document was signed by Chairman of Rosneft Management Board Igor Sechin and PDVSA President Eulogio Del Pino. The Memorandum provides for the formalization of a range of preliminary agreements on priority issues for further implementation of joint projects in Venezuela: PetroMonagas, Petroperija, Boqueron, Petrovictoria, and PetroMiranda. Moreover, the parties confirmed their intention to create a joint venture for gas and condensate offshore production in Venezuela as part of Mariscal Sucre project. The signed document provides for performing of additional joint research aimed at selection of optimum plan of this project implementation. The Memorandum also implies the parties’ intention to continue negotiations regarding increase of Rosneft’s stake in PetroMonagas project. The achieved agreements demonstrate the quality of Rosneft and PDVSA cooperation expressed in consistent development of strategic partnership between the companies.

Petroleos De Venezuela and Rosneft to Sign on New Cooperation Agreements

Petroleos De Venezuela and Rosneft are going to sign a few collaboration agreements on the new projects in Venezuela within the St. Petersburg International Economic Forum. On June 16, Rosneft's Board of Directors will determine whether to continue implementing and funding the Junin-6 project (PetroMiranda JV) and the Karabobo-2/4 one (Petrovictoria JV).

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