The Venezuelan State is PDVSA’s sole stockholder under the provisions of the Constitution of the Bolivarian Republic of Venezuela and represents the economic and political sovereignty exerted by the Venezuelan people over oil, their major energy resource. Therefore, its actions must follow the Ministry of Energy and Petroleum’s guidelines, plans and strategies, as well as the norms issued by the National Development Plans for the hydrocarbon sector.

The New PDVSA

The New PDVSA is a national Venezuelan state-owned corporation, committed to serving the interests of the Venezuelan public; constitutionally, the rightful owner of the countries oil reserves.

The fact that the new PDVSA (born after the damaging national strike instigated by forces opposed to the elected government), is a testament to the new spirit of public accountability, represents a milestone in the development of the nation’s right to full control of oil sovereignty.

This company has developed ever closer links with the Venezuelan State that will allow a coherent connection with the present national project guidelines, set down by the Ministry of Energy and Petroleum (MEP). This policy will, in turn, permit the effective use of resources and the development of cooperation between these two vital organizations in the Venezuelan oil sector