PDVSA

Venezuelan state-owned oil and power company

PetrΓ³leos de Venezuela, S.A. is the Venezuelan state-owned oil and natural gas company. It has activities in exploration, production, refining and exporting oil as well as exploration and production of natural gas. Since its founding on 1 January 1976 with the nationalization of the Venezuelan oil industry, PDVSA has dominated the oil industry of Venezuela, the world's fifth largest oil exporter.

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Spanish police raided several properties linked to a former ambassador to Venezuela on Monday and made several arrests as part of an investigation into alleged..
Credit: Reuters - Published 5 days ago

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