As of 2003, Venezuela had 77.5 billion barrels (1.232×10 m ) of conventional oil reserves according to PDVSA figures, the largest in the Western Hemisphere and making up approximately half the total. This puts Venez… See more

In 2002, many PDVSA employees went on strike against the policies of Chávez, who in response fired over 19,000 workers from the company. As of 2014, Intevep, the research and development arm of PDVSA, reportedly l… See more

Under the presidency of Carlos Andrés Pérez, whose economic plan, "La Gran Venezuela", called for the nationalization of the oil industry, Venezuela officially nationalized its oil industry on 1 January 1976 at th… See more