Prior to Chavez (1980-1990's), PDVSA was a organized enterprise that had benefited from working with private companies. PDVSA was considered by many to be the best run NOC in Latin America throughout the 1990's. Oil production was maintained and managed such that production was sustained despite the price of oil plummeting early in the decade.
Petrostates see business ethics as a function of the current political climate (i.e. sometimes optional) but are relatively good at safeguarding their own financial wellbeing. Venezuela is an exception to this general rule - hence this article.
Petrostates see business ethics as a function of the current political climate (i.e. sometimes optional) but are relatively good at safeguarding their own financial wellbeing. Venezuela is an exception to this general rule - hence this article.
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