Venezuela: Oil Nationalization and the PDVSA Era (1976–2010)

1. Venezuela reserves hydrocarbons to the state

   Aug 30, 1975Labels: Venezuelan state, Hydrocarbons law

   • ETDEWEB
   • JPR
   • Wikipedia

2. Oil industry nationalized; PDVSA begins operations

   Jan 1, 1976Labels: PDVSA, Nationalization

   • JPR
   • PDVSA
   • ETDEWEB

3. Apertura petrolera opens sector to private partners

   Jan 1, 1992Labels: Apertura petrolera, Private partners

   • Le Monde
   • PDVSA
   • Wikipedia ES

4. New constitution reaffirms state petroleum sovereignty

   Dec 15, 1999Labels: 1999 Constitution, State petroleum

   • Constitute
   • Oil Gas J

5. Organic Hydrocarbons Law raises royalties and resets terms

   Nov 2, 2001Labels: Organic Hydrocarbons, Royalties

   • SEC filing
   • ISIOMA

6. Oil stoppage in general strike disrupts PDVSA

   Dec 1, 2002Labels: 2002 2003, PDVSA disruption

   • EIA
   • Wikipedia
   • Elcano

7. PDVSA workforce purged after strike ends

   Feb 1, 2003Labels: PDVSA workforce, Purge

   • Wikipedia
   • EIA
   • Elcano

8. Petrocaribe launched to expand oil diplomacy

   Jun 29, 2005Labels: Petrocaribe, Oil diplomacy

   • Wikipedia

9. Operating agreements converted to PDVSA-majority ventures

   Apr 1, 2006Labels: Mixed companies, Operating agreements

   • Reuters
   • EIA

10. Hydrocarbons law amended; new extraction and export taxes

    May 24, 2006Labels: Hydrocarbons amendment, Export taxes

    • SEC filing

11. Orinoco projects moved into state-controlled joint ventures

    Oct 8, 2007Labels: Orinoco Belt, State joint

    • AP via VA

12. By 2010, PDVSA era shows lasting governance shift

    Oct 1, 2010Labels: PDVSA era, Governance shift

    • Elcano
    • EIA
    • Energy Policy