PDVSA closed 2023 with significant progress in its recovery

In 2023, under the guidelines of the president of PDVSA and Minister of Petroleum, Pedro Rafael Tellechea, the Comprehensive Productive Recovery Plan (PRIP) 2023 began.

This plan emphasized boosting internal capacities and revitalizing their ties with international companies.

In this regard, at the end of 2023, PDVSA reached an important agreement with the state-owned National Gas Company (NGC) of Trinidad and Tobago in partnership with the company of Dutch origin Shell, making this agreement a milestone that places Venezuelan gas fields in the international market.

He also held a working table and explored the possibility of agreements with the Mexican state company Pemex, which constitutes an important step for feasible relations between two important Latin American energy companies.

Additionally, PDVSA improved its internal processes as part of its adaptation to the blockade. Venezuela maintained a small but constant flow of crude oil sent to the international market stealthily to the blockade.

In addition, it strengthened its relationship with Iran to supply technologies adaptable to its refining circuit, in view of the ban imposed on the import of essential components of American origin.

According to information published by the press department of the Ministry of People's Petroleum Power, among PDVSA's most notable advances are:

1. Stabilization and increase of oil production.

2. Stabilization in the production of fuels, gas and derivatives for the domestic market.

3. Improving fuel distribution capacities.

4. PDVSA is reentering the international gas market.

5. Recovery of internal capacities.

6. Internal and human talent management.