Petróleos de Venezuela

Petróleos de Venezuela, S.A. (PDVSA) is the state-owned oil and natural gas company of Venezuela. It is at the center of recent news due to a combination of internal reforms and external pressures. Venezuela's National Assembly approved legislation aimed at improving conditions for foreign oil companies, potentially reducing their tax burden. This overhaul is reportedly influenced by pressure from the Trump administration. Simultaneously, the U.S. has escalated its pressure campaign against Venezuelan leader Nicolás Maduro by seizing oil tankers, including a Russian-flagged vessel, allegedly carrying Iranian oil destined for Venezuela. These actions signify a tightening of U.S. control over Venezuelan oil resources and represent a significant challenge to PDVSA's operations and revenue streams.