Before the Bolivarian Revolution, Petróleos de Venezuela, S.A. (PDVSA) the Venezuelan state-run oil company, was completely cut off from society and its needs. The strategic guidelines of the country’s oil industry were set abroad to favour large multinationals such as Exxon and Shell, among others.
Contrary to some media reports, the Venezuelan state has not negotiated directly with the U.S. company, ExxonMobil, with regards to compensation, after the Venezuelan government made the sovereign decision to nationalize operations in the Orinoco Oil Belt in May 2007.
By Jorge Martín - In Defence of Marxism, Aug 5th 2011
In the second part of Revolutionary Vignettes, José Martín discusses bureaucracy as an obstacle to the advancement of the worker's control movement, particularly within state oil company PDVSA.
An international arbitration panel dismissed a claim by Brandes Investment Partners against Venezuela seeking damages for the forced sale of its stock in the nationalization of the country’s phone company, state-oil company Petroleos de Venezuela SA said today in a statement.
By Neftali Reyes - Debate Socialista, Jul 20th 2011
The following is an article from the Socialist Debate website about the role of voluntary labour in Venezuela's housing construction program, Mision Vivienda, launched in April this year to address the shortage of housing in Venezuela. It discusses the significance of voluntary labour in the transition to socialism.
Seeing is believing. Any hope that Venezuelans had in the Obama administration has been shattered against the recent U.S.-imposed sanctions on Venezuela's state-owned oil company, PDVSA. Two massive rallies were held in one week in Caracas against this U.S. foreign intervention.
Around ten thousand people marched in Caracas on Sunday to protest the sanctions by the U.S. on Venezuela’s state oil company Petroleos de Venezuela (PDVSA) for trading with Iran.
By Jorge Martín - In Defence of Marxism, May 27th 2011
On Tuesday May 25, the US imposed penalties against Venezuelan state-owned company PDVSA, and another 6 companies from other countries, for conducting business with Iran. The sanctions are part of an attempt by Washington to step up the pressure against Iran in relation to its nuclear program. They are also an act of blatant bullying directed against Venezuela.
In this interview translated by Venezuelanalysis, Venezuela's Minister of Energy and Oil, Rafael Ramirez, spoke to teleSUR reporters about the new “Special Contribution Law for the Extraordinary and Exorbitant Prices of Oil." Ramirez explains how the new law will promote the fair distribution of profits from the oil industry in the social areas that require the greatest level of investment from the Venezuelan state.
In response to the US State Department's decision to impose unilateral sanctions against Venezuela's PDVSA this week, individuals and/or organizations within the United States are being asked to add their names to the following 'Declaration of Rejection' (available in both English and Spanish).
