Unearthing Squandered Potential in Venezuela’s Oil Industry: A Tripartite Contractual Approach

Venezuela is reeling from a multitude of woes. Vast swathes of the population have fled to neighboring countries as a humanitarian crisis flares out of control. The Venezuelan oil industry – the economy’s frail linchpin – has not escaped the morass. PdVSA, the state-owned oil company, is crippled by chronic operating mismanagement and resource nationalism. […]