Petróleos de Venezuela

Petróleos de Venezuela, S.A. (PDVSA) is the state-owned oil and natural gas company of Venezuela. It's currently newsworthy due to significant changes impacting its operations, largely driven by US pressure. Venezuela's National Assembly recently approved legislation overhauling the oil sector, aiming to improve conditions for foreign oil companies and potentially reduce their taxes. This move is seen as a response to pressure from the Trump administration. Furthermore, the US military has seized oil tankers, including a Russian-flagged vessel, allegedly involved in trading Venezuelan oil, escalating the pressure campaign against Nicolás Maduro. These actions highlight the ongoing geopolitical tensions surrounding Venezuelan oil and PDVSA's role in the country's economy and international relations.