PDVSA Creates 7 New Subsidiaries

Venezuelan President Hugo Chavez has approved the creation of seven new subsidiaries at state oil company PDVSA, local press reported.

The new subsidiaries include the following: PDVSA Industrial, PDVSA Servicios (services in English), PDVSA Agricola (agricultural), PDVSA Ingenieria y Construccion (engineering and construction), PDVSA Desarrollos Urbanos (urban developments), PDVSA Naval and PDVSA Gas Popular (domestic gas).

Visit BNamericas to access our real-time news reports, 10-year archive, Fact File company database, and latest research reports. Click here for a Free two week trial to our Latin America Oil & Gas information service. PDVSA Industrial will provide technical services to the country's oil industry including drilling rigs, industrial chemicals and telecommunications equipment.

PDVSA Servicios will provide construction services and maintenance for oil wells.

PDVSA Agricola will develop agro-industrial services including the development of 100,000ha for ethanol production.

PDVSA Ingenieria y Construccion will provide engineering and construction services for the construction of refineries, oil and gas plants and pipelines.

PDVSA Desarrollo Urbanos will develop non-commercial urban infrastructure works.

PDVSA Naval will construct ships and ports and PDVSA Gas Popular will produce and distribute LPG.

An eighth subsidiary, PDVSA Hogar (home), is being evaluated and would produce and distribute home furnishings including furniture, televisions and home construction materials, among others.