March 29, 2001 |
Tens of thousands of workers in Venezuela's oil industry went on strike to demand a pay hike. Union leaders said 92% of 40,000 workers honored the strike. Petroleos de Venezuela, the government oil monopoly, insisted that operations weren't affected. Venezuela, the world's third-largest oil exporter and a major supplier to the U.S., says it can withstand a strike for seven days before exports are affected.
January 8, 1999 |
Chevron Corp., the fourth-largest U.S. oil company, and Petroleos de Venezuela are in talks regarding a $1.5-billion venture to manufacture aromatics--the building blocks of plastics, solvents and pharmaceuticals. If San Francisco-based Chevron and PDVSA unit Proesca decide to go ahead, the venture could begin production in 2002, a PDVSA spokesman said. Production would be about 1.3 million tons a year of aromatics, including benzene and xylene.
August 31, 1992 |
Venezuela May Sell Citgo Stake: Venezuelan President Carlos Andres Perez has ordered his country's state-owned oil company, Petroleos de Venezuela, to sell half of its wholly owned U.S. subsidiary, Citgo Petroleum Corp. Perez said he made the decision on Citgo "because it's no longer a good business." However, Perez said the state company will have to wait until the market recovers to sell the shares at a profit. Petroleos de Venezuela bought 50% of Citgo in 1986 and the remainder in 1990.
August 11, 1992 |
An official of Oxnard-based Benton Oil & Gas Co. branded as "grandstanding" a Venezuelan congressional leader's demand for an investigation of a contract for Benton to reactivate three of that country's abandoned oil fields. The pact calls for Benton to join with a Venezuelan construction firm and an affiliate of the national oil company Petroleos de Venezuela S.A. in reactivating fields said to contain about 100 million barrels of oil.
June 23, 1992
Benton Oil & Gas Co. in Oxnard said Venezuela's national oil company has granted Benton and its joint-venture partner, the Venezuelan construction company Vinccler CA, the right to further develop three oil fields in Venezuela. The joint venture will make all investments needed to reactivate the fields and will receive an undisclosed fee for each barrel of crude oil produced, Benton said. Initial production should begin by mid-1993, it added.
February 15, 1990
Chevron Corp. said it will sell an unused refinery and an operating shipping and storage facility in the Bahamas to Venezuela's state-owned oil company. No terms were disclosed for the mostly cash deal with Petroleos de Venezuela, which owns the Citgo oil company. The deal must be approved by the governments of the Bahamas and Venezuela.