Pdvsa annual report pdf

The issues they identified are discussed most heavily in this report. Pdvsa who were fired during and after the 200203 strike. In addition to being venezuelas largest employer, pdvsa accounts for a significant share of the countrys gross domestic product gdp, government revenue, and export earnings. The decision by pdvsa to pursue these claims in the united states at this time via a. Information in a crs report should not be relied upon for purposes other than public understanding of information that has. Aug 28, 2019 industryspecific and extensively researched technical data partially from exclusive partnerships. Pdvsa, cencoex, the office of the comptroller general of the nation, the judiciary, the public prosecutors office, the saime and. Causal effects of petrocaribe on sustainable development. And subsidiaries pdvsa consolidated financial statements table of contents page independent public accountants report 17 consolidated statement of profit or loss and other comprehensive income 8 consolidated statement of financial position 9 consolidated statement of changes in equity 10. Management report auditors report on the system of internal control over financial reporting independent assurance report on the sustainability information of the consolidated management report this annual financial report 2017 is a translation of a report originally issued in spanish.

Reference should be made to the october 2010 underwriting report for further detailsof the risk. Across the industry, the financial results were impacted by the continued low price environment and statoil ended up with a negative net income of usd 2. If you want to receive this report via email andor for more information about our products and services, please visit our website. This annual report includes the report of enis board of directors and enis consolidated financial statements for the year ended december 31, 2009, which have been prepared under the international financial reporting standards ifrs, as adopted by the european union. Identity of directors, senior ma nagement and advisers item 2.

This integrated report may contain forwardlooking statements that are based on managements current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance, or events to differ materially from those expressed or implied in such statements. Pdvsa annual management report 2015 this document is part of the source library for nrgis 2017 resource governance index, a comprehensive measure of the quality of natural resource governance in 81 oil, gas and mineralrich countries. First commercial use of hdhplusr shp technology for the processing of heavy crude from the hugo chavez orinoco oil belt. Export annual and quarterly reports to adobe pdf, microsoft word and excel for offline viewing, annotations and analysis. When used in this annual report, the terms we, our, us and pdvsa finance refer to pdvsa finance ltd. Ec sec filing 20f annual report for the fiscal year ending tuesday, december 31, 2019. Pdvsa asks bondholders to waive financial reporting. Pdvsa financial statements, pdvsa annual report and own calculations section 1. Investors information for investors and shareholders, financial reports. Venezuelas batteredandbruised public oil company published its 2016 consolidated financial statements late at night last friday. This report is guided by the issues that are most material to our business and stakeholders. The international bank for reconstruction and development ibrd and the international development association ida are two of the five institutions of the world bank group wbg.

Jul 03, 2016 venezuelas pdvsa revenue plunges amid commodity price collapse by. About this report citgo developed this third annual corporate social responsibility report csr report to describe our corporate social responsibility and safety and environmental performance in 20. To determine those issues, we surveyed our subject matter experts at the end of 2014. Pdvsa asks bondholders to waive financial reporting requirements by. Published reports and the court filings suggest that one reason the trust structure was adopted was to prevent future pdvsa management from interfering with or shutting down the litigation.

Therefore, the company restated its consolidated financial statements for the years ended as of december 31, 2012 and 2011. Conocophillips files arbitration against pdvsa for. Molero torres refers to the fact that the preliminary studies of the consolidated financial statements of pdvsa for the year 2017 at the time of the issuance of the report were in the process of external audit, showed export sales and their products for 50,861 million usd, while the previous year, 2016, had been 41,361 million usd. Venezuelas pdvsa revenue plunges amid commodity price collapse. A report pdf by the international energy agency examining venezuelas extraheavy crude oil production put pdvsa s 2005 production rate at 3. In this situation, it is encouraging to see how well the. Venezuela pdvsa monthly report august 2017 higher risk of a total standstill in the venezuelan debt market, brough either by more counterparties suspending their trading activity, or by the us government imposing a direct prohibition on capital andor interest payments on bonds, a situation that might trigger a credit event even in. Termozulia thermoelectric plant, western coast of lake maracaibo, zulia state, venezuela. Pdvsa annual management report 2015 datasets resourcedata.

Mar 06, 2017 with the way pdvsa operates, it is exploiting reserves so slowly as to render them, on average, worthless. Pdvsa annual management report 2015 pdvsa annual management. Sanctions have increased economic pressure on the maduro. Pdvsa and two of its subsidiaries as a result of the decision of an international arbitration tribunal constituted under the rules of the international chamber of commerce icc. Analyze up to 10 years of full 10k annual reports and quarterly 10q sec filings for ecopetrol s. The 2018 annual report features our corporate strategy and data on our business performance throughout our productive chain from january 1 to december 31. About this report the 2012 citgo corporate social responsibility csr report is our second annual report developed in an effort to provide details about our corporate social responsibility and safety and environmental performance. Pdvsa asks bondholders to waive financial reporting requirements. The natural resource governance institute nrgi helps people to realize the benefits of their countries endowments of oil, gas and minerals. Statoil, annual report and form 20f 2016 5 dear shareholder, 2016 was a challenging year for the oil and gas industry. This document focuses on the most relevant issues to our business and stakeholders, as determined by our subject matter experts during a materiality. Tuesday, august 07, 2018 venezuelas staterun oil company pdvsa has limited the damage from an unprecedented slump in crude exports by transferring. International arbitration tribunal rules conocophillips is.

Retired employees and relatives information for employees and services for pensioners. See the department of states annual report on international parental child abduction at. On page 43 of the pdf, you can see the companys investment plan. Key highlights about the company rosneft annual report 2017. Mar 24, 2014 in august 2010, pdvsa, venezuelas state oil company, published this annual report. Pdvsas financial statements for 2016 are in, and its all sorts of fun if youre into suffering and crying. Nearly four and a half million people have benefited from our harvest of achievements. Innovation, technology and talent that is committed to top quality and fast results. Pdvsa recognized the effect of the revised international accounting standard 19 employee benefits, which shall be applied retrospectively and for annual periods beginning on or after january 1, 20. Rosneft and venezuelas pdvsa launched pilot production in the orinoco oil belt through the petrovictoria.

Such forwardlooking information is based on the current assumptions and beliefs of the company in light of the information currently available to it, and involves known and unknown risks, uncertainties, and other factors. Venezuelas oilbased economy council on foreign relations. As such reports began to emerge, some of those opposed to the venezuelan. Aug 03, 2017 venezuelas state oil company, ensnared in the political crisis gripping the country, is asking bond investors for a temporary waiver from financial reporting requirements because it cant. Key highlights about the company rosneft annual report. For andres rojas, a journalist specialized in economy and energy, at least eight factors have a definitive impact on the drop in pdvsa production. Contractors new contracting, invoicing and payment processes. Half of the oil bill is to be paid within 90 days after the purchase and the rest. United states securities and exchange commission washington, dc 20549 form 20f.

The daily quota increased in 2005 up to 98mbd, on average receives 72. These projects have required hard currency guarantees. With the way pdvsa operates, it is exploiting reserves so slowly as to render them, on average, worthless. This report highlights the work citgo completed in 2012 to advance our corporate social responsibility efforts. The report says that if the production levels reached with insufficient resources are taken into account, it is possible to glimpse explanations about the magnitude of the crisis that has overtaken pdvsa and the country, which presents a severely weakened productive apparatus, even though in 2017 it closed with a price average daily that rose. Pdvsa audited financial statements 2015 this document is part of the source library for nrgis 2017 resource governance index, a comprehensive measure of the quality of natural resource governance in 81 oil, gas and mineralrich countries. Forwardlooking statements this integrated report may contain forwardlooking statements that are based on managements current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance, or events to differ materially from those expressed or implied in such statements. Rosneft and venezuelas pdvsa launched pilot production in the orinoco oil belt through the petrovictoria joint. Pdvsa finance ltd annual and transition report foreign. However, no prospectus or term sheet has yet been made public. If thats not bad enough, pdvsa is generating negative cash flows and piling up a. Overview in a highly inflationary context with exchange controls, the cost of operations in venezuela has increased over recent years. Industryspecific and extensively researched technical data partially from exclusive partnerships.