PANAMA CITY, PANAMA (Piero Stewart, Energy Analytics Institute, 18.May.2025, Words: 183) — Venezuela’s executive vice president and hydrocarbon minister Delcy Rodríguez said unilateral coercive measures (MCU by its Spanish acronym) against state-owned Petróleos de Venezuela, S.A. (PDVSA) have led to accumulated losses of $232bn between 2017-2025.
RELATED: PDVSA ad Hoc administrative board reaffirms commitment to safeguard Citgo
Rodríguez, speaking on 18 May 2025 during an event at Venezuela’s National Hydrocarbons University, said measures against the OPEC country’s main industry also blocked PDVSA’s access to debt and prohibited the repatriation of dividends. Also, she said the measures included confiscation of certain international assets, primarily Citgo Petroleum and Monómeros, while also limiting the operations of international oil companies (IOCs) that are strategic partners with PDVSA.
