The most relevant organizations in the food sector are:
- Ministry of People’s Power for Agriculture and Land, Ministerio del Poder Popular para la Agricultura y Tierras
- People’s Ministry for Food, Ministerio del Poder Popular para la Alimentación
- Agricultural Supply Corporation, La Corporación de Abastecimiento y Servicios Agrícolas
- Food Market, Mercal – Mercados de Alimentos
- National Venezuelan Chamber of Food, La Cámara Venezolana de la Industria de Alimentos
- National Association of Supermarkets and similar, Asociación Nacional de Supermercados y Autoservicios
- Pdvsa food, Producción y Distribución Venezolana de Alimentos
Hydrocarbons and Hydrocarbon Services
- Venezuela has in the field of services linked to hydrocarbons opportunities as broad as its energy reserves:
- Heavy Oil: 172.608 million barrels (not certified in the Orinoco Basin)
- Gas: 4.738 billion of cubic meters
- Coal: 6,000 MMBOE Source: PDVSA, British Petroleum (BP)
It occupies the second position among the countries with the largest reserves of conventional oil, including part of the reserves already certified in the Orinoco Basin, and still in the process of certifying 172.608 million additional barrels. In relation to gas reserves, it is the country with eighth greatest quantity in the world. In order to realize the magnitude and the importance of Venezuela’s NOC’S to its economy, take note of PDVSA’S figures:
- PDVSA’s current production is 2.9 million barrels of oil per day, and 7 billion of cubic feet of natural gas per day. PDVSA’s exports are 2.5 million barrels of oil per day.
- PDVSA’s refining assets are equally impressive. PDVSA is responsible for the refining of 3.0 million of barrels per day of crude oil in 24 refineries worldwide.
- These figures put PDVSA as the fourth largest oil company in the world, according to Petroleum Intelligence Weekly in 2009.
As part of the National Constitution and following the guidelines of Oil Sovereignty Plan, the Venezuelan government made a reform called the Organic Law of Hydrocarbons, which establishes a new framework for the participation of individuals and the state for the execution of primary activities related to hydrocarbons under so-called “joint ventures”. Companies participating in joint ventures are responsible for developing primary activities (extraction, collection, transportation and initial storage of hydrocarbons). The Venezuelan State retains a participation of over 50% of the social capital of the venture in order to secure the stock and operational control. The constitution of joint ventures and the conditions which will govern them will require the prior approval of the National Assembly. Petróleos de Venezuela, SA (PDVSA), www.pdvsa.com