The Untold Story of Pdvsa in 2017 (Special Report)

• By  Press Release ,  www.portalalba.org
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 What does the sale of Venezuelan crude in currencies other than the dollar?

In recent years  we have witnessed a brutal onslaught on  Petroleos de Venezuela SA  (PDVSA), the state company that  "earned an integral gain of 1 billion 592 million dollars into the financial and operational end of the year 2016". 

Falling oil prices  produced that Venezuelan crude was located "at $ 35.15 per barrel, or $ 9.5 below the average of 2015, when it closed at 44.65 per barrel, representing a fall of 21% of "information outlined in the press release  of the national oil company. 

The start of  2017 brought  a series of legal battles at international level of transnational corporations against  Pdvsa,  including litigation filed by  Crystallex  before the  Federal Court of the State of Delaware, Helmerich & Payne  before the  Supreme Court of the United States and ExxonMobil before the  International Center for Settlement of Investment Disputes  (ICSID), all favorable to the Venezuelan state oil results.

Third party interests in the oil  still lies in Venezuelan subsoil  are remarkable if we consider that  the proven reserves of so - called black gold are the most voluminous of the planet  in this corner of Latin American Caribbean (316 billion barrels counted so far) . 

Pdvsa means for the corporate world a sign of sovereignty and solvency plays against those same private interests seeking the breakdown of the Venezuelan company, and consequently the nation-state, in order to directly control the natural resources of the territory without any mediation.

The  siege of Pdvsa ,  the main financial and economic engine of  Venezuela , has been in the hands of rating agencies (governed by  Wall Street, the City of London, the International Monetary Fund and the World Bank ), the manipulation of information on the debt of the company and the attempted sabotage of the national Assembly constitutional contempt (which bet on the collapse of the country as a political strategy) to sovereign decisions regarding the bond exchange, international investment and formations of joint ventures to develop the domestic oil industry .

Markets and resources of the globe  are in dispute between various players:  US, EU, Russia or China. 

In this context,  Pdvsa creates new agreements and shields relevant partnerships  in  favor of the Venezuelan oil industry.

Consider some cases, the most representative in recent months, ending in decisive actions to the interests of the company and accordingly to the financial and economic coffers of Venezuela. 

An unprecedented year for Pdvsa in terms of strategic partnerships with the emerging bloc, which underpins within a geoeconomic architecture on a global scale (led by Russia and China) as a form of response to US sanctions aimed at blocking its external financing as the Ejectuva Order signed by Donald Trump on 25 August.