Venezuela: the political economy of oil

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Published by the Oxford University Press for the Oxford Institute for Energy Studies, 1993 - Business & Economics - 233 pages
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The first book in a new series on oil exporting countries, Venezuela: the Political Economy of Oil is indispensable for all observers of the world oil market. As the founding member of OPEC, Venezuela continues to hold a central position in the world petroleum market. Its national oil company, PdVSA, the third largest oil company in the world, is pursuing a revolutionary policy of external acquisitions in developed countries. At the same time, there are early signs of a shift in its attitudes towards allowing foreign investment. This study provides a comprehensive and masterly analysis of the Venezuelan oil industry within the context of the political economy of the country. In particular, Boue considers the potential reserves of the Orinco Oil Basin, the environmental challenges facing Venezuela's oil industry, and the uncertain future of orimulsion, a possibly revolutionary new fuel. In light of two attempted military coups in 1992, this study assesses the prospects for the Venezuelan oil industry in the near and longer-term future.

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About the author (1993)

Juan Carlos Boue is a Senior Research Fellow at the Oxford Institute for Energy Studies. He has worked on oil and gas issues throughout his professional life, both as an academic and as an oil company executive and strategic consultant. His research and activities have concentrated on the
industrial economics and the political economy of the oil and gas industries. His views and expertise have been sought by the some of the most important national oil companies in the world, as well as their parent governments, multinational oil companies, and universities in Europe and Latin