Is Chavez Bleeding PDV Dry? Or Running With the Pack?

摘要

While many oil-producing states rely heavily on their national oil companies (NOCs) for tax revenue and other contributions to state budgets, Venezuela is often cited as being the most reliant in Latin America, using state Petroleos de Venezuela (PDV) not only as a major source of tax income, but also to fund social spending and as a major employer of workers outside the oil sector. But is Venezuela really outside the norm for oil exporters in its reliance on PDV?