PDVSA gave oil production in Venezuela to foreigners
The Venezuelan state-owned company PDVSA gave foreign partners control over oil fields, Reuters reports with reference to the ex-minister of the country's oil industry Rafael Ramirez. PublicDomainpictures / CC0 1.0 What's happened PDVSA does not develop deposits, but only sign contracts with companies that have taken this work, says Ramirez. “De facto is privatization,” says a former official, who headed PDVSA in 2004-2014. At the same time, it is not fixed on paper.