The Policy Process in a Petro-state: An Analysis of PDVSA's (Petróleos de Venezuela SA's) Internationalisation Strategy

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Ashgate, Jan 1, 1999 - Political Science - 266 pages
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The high degree of international vertical integration achieved by the Venezuela state oil enterprise, Petroleos de Venezuela S.A. (PDVSA), has placed it among the most important oil multinationals. The policy of creating downstream outlets through the establishment of foreign direct investment in the form of refinery assets was given the term internationalization. Besides enabling PDVSA to expand market share and gain access to specific know-how, the internationalization policy provided industry policy-makers with a way of maximizing corporate decision-making freedom, farther away from the government's financial demands and Congress meddling.

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About the author (1999)

Cesar E. Baena is Professor, Instituto de Estudios Superiores de Administracion (IESA), Caracas, Venezuela.

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