"PDVSA between the top Oil Companies of the world", the oil company that made us proud 20 years ago is now ruined.

I want to share this article with you guys out there. I'll put the english translation below:

According to Petroleum Intelligence Weekly
PDVSA among the first oil companies of the world

Petroleum Intelligence Weekly, publication specialized in the oil issue, points out that "Saudi Aramco remains solidly in the first place, while the dynamic PDVSA closed the gap that separated her from the vanguard position."

For the second consecutive year, PDVSA occupied the second place. That can be found in the annual classification, which since 1996 has been published by PIW, which groups the 100 leading oil companies in the world.

This publication is the only one that groups in the same list private corporations and businesses owned by the
states. The world's 100 largest are compared according to criteria on reserves and crude production, natural gas production reserves, installed refining capacity and sales of products.

In his last evaluative table, corresponding to december of 1997, Petroleum intelligence Weekly notes that "Saudi Aramco remains solidly in the first place, and the dynamic PDVSA closed the gap that separates it a little closer of the vanguard position."

Additionally, it points out that the main tendency of the industry towards privatization, merger of companies and alliances had little impact on the results of the main oil companies. Nevertheless, the domain that state companies had over the major corporations is changing.

Petroleos de Venezuela, S.A. (PDVSA) was founded in 1975, when former president, Carlos Andrés Perez had the Nationalization of the Oil Business in the works. This enterprise had the mission of directing everything about planification, coordination and supervision of all the oil activities of the country, it became an state owned business.

In 1983, Pdvsa initiated an internationalization program, which it expanded its assets through a long cycle of investment, commodification and storage of hydrocarbons in companies outside the country, especially in nations that consume crude oil as an energy source. Between 1989 and 1998, within the economic project of market societies, established in Venezuela, from the second government period of Carlos Andrés Pérez, the Oil Openings was launched: an investment program where the main state company was open to the market, in order to motivate domestic and foreign private capital to participate in the activities of exploration, exploitation, refining and commercialization of hydrocarbons. This was developed in three ways: operating agreements or services, strategic partnerships and shared profits. By then, and according to the free market economic model, the Oil Opening was one of the measures implemented in the last decade of the last century, to exit of the economic quagmire in which the nation was. Although its consequences were not as significant as expected, they were not catastrophic either; Thus, the production and distribution of goods and services was at least sustainable and the economic paralysis of several companies was not reached, nor was the continued shortage in the acquisition of basic products for survival and personal hygiene.

But that only was implemented only for 5 years.

Then, Hugo Chavez was elected President.

With the entry into force of the Constitution of the Bolivarian Republic of Venezuela in 1999, and the Hydrocarbons Law of 2001, the State, appealing to its authority, deprived Pdvsa of its autonomous power as a public limited company. This company ceased to be controlled by its board of directors and came under the control of state power through the Ministry of Energy and Mines. With this measure, there was a return to state capitalism (under the socialism of the 21st century mask); a new oil investment model was activated, supposedly, so that the nation would not be affected, but it is common knowledge that this was not the case. The dilapidation of international reserves and the mismanagement of the North American currencies that enter the country due to the sale of each barrel of oil have been overwhelming. The current economic situation that eats every Venezuelan, accounts for this. Indistinctly that the prices of crude oil have decreased, the current problem is the collapse of the productive apparatus that is not capable of supplying the demand of internal consumers. When we had the oil boom of the 21st century, with exorbitant prices of the barrel of crude oil, the government in turn followed the same trend now, did not know how to seize the opportunity to sow the oil, as advised in 1936 the historian Arturo Uslar Pietri. Or maybe they did, but for personal and partisan privileges, and the consolidation of an internal and external clientelism. He did not look at the historical past of Saudi Arabia to take precautions and not repeat the same mistakes. Nor did he look at the experience of other countries such as Norway, Kuwait and Saudi Arabia on the measures they took so that their economies did not depend, necessarily, on the rise or fall of the price of oil. Almost 51 years after this company was created, we know what their destiny will be. The panorama looks very bad. The President of the Republic, instead of correcting wrongs, on February 10, 2016, by decree number 2331, created an alternate company: Military Joint Company of Mining, Oil and Gas Industries, attached to the Ministry of Popular Power for Defense, managed by members of the National Armed Forces, at the discretion of the government, and with broad faculties to dedicate themselves to the business that is reserved for PDVSA, a company whose future is dark.

It is our duty to spread the truth. If you agree, i invite you to resteem the post. Let's prevent the Americas for what could happen if we don't take a stand against socialism in all the hemisphere.

The Information War is real.
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