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Company

Petroleos de Venezuela SA

PDVSA is Venezuela's state-owned oil and natural gas company, the country's main revenue source and parent of US refiner Citgo.

Known aliases

  • PDVSA
  • Petroleos de Venezuela
  • Petróleos de Venezuela
  • Petroleos de Venezuela SA
  • Petroleos de Venezuela S.A.
  • Petróleos de Venezuela SA

Current stories

investOne report1 publisher

David Rivera gets 10 years for hiding a $50 million Venezuelan lobbying contract

Judge Melissa Damian sentenced former Rep. David Rivera to 10 years for hiding a $50 million lobbying contract from a US affiliate of Venezuela's PDVSA. The term shows what concealment costs consultants paid by foreign governments when a case runs its course, and it comes as such prosecutions have plunged.

Publishers:fortune.com

Reality

Evidence62
Adoption
Not scored
Hype gap+5
Incentives55
Confidence65
investOne report1 publisher

Six Treasury extensions keep Elliott's $9 billion Citgo purchase from closing

Treasury has extended Citgo's protection from a court-ordered $9 billion sale to Elliott Management six times since January. Creditors holding that order are waiting on an administration that keeps its leverage over Caracas for as long as it leaves the license undecided.

Publishers:fortune.com

Reality

Evidence55
Adoption
Not scored
Hype gap+15
Incentives65
Confidence50
investOne report1 publisher

Venezuela hires the money doctor: Hanke to draft a law killing the bolivar and the central bank

The National Assembly named Steve Hanke special adviser and told him to write a full dollarization law. He puts the odds of passage at 50% to 80%.

Publishers:fortune.com

Reality

Evidence45
Adoption
Not scored
Hype gap+30
Incentives65
Confidence40
investOne report1 publisher

Orlen advanced $230m unsecured five days after signing a $345m Venezuelan crude contract

Orlen's Swiss trading arm paid for Venezuelan crude with Tether tokens and received almost none of it. The loss was set before the first conversion, by the payment terms written into a contract signed days after the parties met.

Reality

Evidence38
Adoption25
Hype gap+18
Incentives78
Confidence42
investOne report1 publisher

TotalEnergies signs with PDVSA five years after writing off $1.4bn in Venezuela

The memorandum signed at Miraflores Palace on September 19 follows deals BP, Eni, Repsol and Chevron struck with the new government this year. Venezuela still pumps under a million barrels a day against about three million in the late 1990s.

Reality

Evidence32
Adoption28
Hype gap+22
Incentives62
Confidence33
buildOne report1 publisher

Every control that failed in Orlen's $424m oil trade sat off-chain

Orlen's contractor converted $245m into USDT at Dubai companies and later handed 110m of it to a purported broker on two USB sticks. The Polish government's investigation pins the total lost and spent at $424m.

Publishers:tomshardware.com

Reality

Evidence35
Adoption
Not scored
Hype gap−10
Incentives45
Confidence40
investConfirmed5 publishers

Washington prices 65 billion Venezuelan barrels at $1.54 of promised capital each

Caracas puts the bill above $100 billion for reserves the White House says more than double America's, a stock claim with no schedule attached while the only new barrels come from Chevron tuning old wells.

Perspective Coverage

5 publishers
Builder
Builder 12%
Operator
Operator 38%
Investor
Investor 50%

Reality

Evidence44
Adoption22
Hype gap+71
Incentives82
Confidence63
investOne report1 publisher

A Coinbase co-founder signs a PDVSA production contract on a basin Rystad dates to 2035

Fred Ehrsam's Primavera holds a production-sharing contract with PDVSA in the Orinoco Belt, where Rystad Energy expects significant new output only around 2035 and calls execution, not geology, the binding constraint.

Reality

Evidence36
Adoption24
Hype gap+45
Incentives62
Confidence41
investOne report1 publisher

Caracas takes 916 exploration blocks to Houston. Two signed deals came back.

Venezuela's new petroleum minister pitched 916 exploration opportunities and 192 trillion cubic feet of gas. The names on paper so far are Hunt Oil and SLB.

Publishers:fortune.com

Reality

Evidence44
Adoption27
Hype gap+52
Incentives82
Confidence55
investOne report1 publisher

Washington's Venezuela oil access is being routed through one man, toward small wildcatters

Alejandro Betancourt is helping the Trump administration pick assets and partners in Caracas. With no competitive bidding and majors staying out, the beneficiaries are small US operators.

Publishers:fortune.com

Reality

Evidence40
Adoption28
Hype gap+55
Incentives80
Confidence45