PDVSA, the state-owned oil company in Venezuela, is exploring the formation of a blank-check company to seek potential investment in its oil field stakes.

The entities involved

• Venezuela →

  Country in Latin America

  • The Organization of American States (OAS) is currently gathering to address and resolve political crises in several member states, including Haiti, Venezuela, Guatemala, and Nicaragua.Mon 13:11
  • Fundraising supports aid work in Venezuela.Mon 11:26
• PDVSA →

  Venezuelan government-owned oil company

  • PDVSA, Venezuela's state oil company, signed a crude and gas agreement with Repsol to regain operational control of assets in Lake Maracaibo.Mon 04:49
  • The United States claims a 20 percent stake in Venezuelan oil reserves, which are managed by PDVSA.Sun 00:37

Related events

• U.S. companies, including ConocoPhillips, are reportedly circling Venezuela's oil fields.Aug 28
• A dialogue was held concerning macroeconomic prospects and policy priorities involving Venezuela, the IMF, and the Central Bank.Jul 30
• PDVSA, the Venezuelan oil company, has undergone a major restructuring under Hugo Chávez, relegating foreign oil firms to minority partnerships.Jul 25
• Oil companies are negotiating with Venezuela's acting government, urging $100 billion in investment under a U.S. Treasury debt recovery program.Jun 10
• A new company is seeking oil reserves and market influence in Venezuela, challenging established market leaders.Sep 4