http://www.citgo.com/AboutCITGO/PDVSAprofile.jspPDVSA Profile
PDVSA Profile
Petróleos de Venezuela S.A.(PDVSA) is a world energy corporation, owned by the Venezuelan State. Its operations cover the exploration, production, refining, transport and marketing of hydrocarbons, as well as the Orimulsión®, chemical, petrochemical and coal businesses.
Resource Base
Venezuela has the largest hydrocarbon reserves in the Western Hemisphere, representing approximately half the region's reserves, which positions the country as fifth in the world in proven reserves. With the Orinoco Belt reserves, the country possesses the largest accumulation of liquid fuel on the planet.
Production
PDVSA has a production capacity, including the strategic associations and operating agreements, of 4 million barrels a day, while production exceeds 3 million barrels a day.
Refining
PDVSA is among the leading corporations in the refining business, with a petroleum processing capacity of 3,285,000 barrels a day (1,285,000 barrels a day in Venezuela and 2 million barrels a day outside the country) through 24 refineries: six complexes in Venezuela, one in the Caribbean, eight in the United States and nine in Europe.
Marketing
Venezuela generally exports 93 percent of its total hydrocarbon production. Approximately 54 percent of these hydrocarbon exports go to the United States and Canada.
Orinoco Belt
The production and upgrading of the huge extra-heavy crude reserves in the Orinoco Belt is being carried out by four strategic associations headed by PDVSA (Ameriven, Cerro Negro, Petrozuata and Sincor). Private-sector participation includes the U.S. companies: ExxonMobil, ConocoPhillips and ChevronTexaco; and the Europeans; Statoil and TotalFinaElf. Total production from these projects is planned to reach 600,000 barrels a day by 2008, following a $13-billion investment.
Socioeconomic development
PDVSA is genuinely committed to Venezuela's social and economic development, and is especially active in projects focused on health, education, environment, and local economy.
The State oil company has also begun a review aimed at integrating Social Investment into the framework of a vision of Corporate Social Responsibility that works directly with communities, and emphasizes the development of local small and medium-sized enterprises in oil-related and other sectors, especially cooperatives and microenterprises.