The policy process in a petro-state : an analysis of PDVSA's (Petróleos de Venezuela SA's) internationalisation strategy
Author(s)
Bibliographic Information
The policy process in a petro-state : an analysis of PDVSA's (Petróleos de Venezuela SA's) internationalisation strategy
(The political economy of Latin America series)
Ashgate, c1999
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Library, Institute of Developing Economies, Japan External Trade Organization図
LSVE||658||P114459341
Note
Includes bibliographic references (p. 245-258) and index
Description and Table of Contents
Description
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. Venezuela offers a unique case and thus fertile ground for study of oil policy-making processes. By analyzing PDVSA's internationalization policy, this book explores the difficulties encountered by a major SOE in its efforts to grow beyond national borders. The study focuses on the impact of democratic bargaining on the process of oil policy-making in Venezuela, stressing the constraints posed by politics on PDVSA's efforts to expand its foreign operations.
The book also looks at the relationship between the oil industry and the other two key decision-making centres involved in the oil policy-making process, the executive and Congress. In exploring the ways in which each one of them sought to influence policy outcome, the study provides insight into the main factors that prompted the tensions among the policy actors involved.
Table of Contents
- The nationalization policy - a combination of political and strategic motives
- PDVSA's early objectives - the process of corporate consolidation
- the first phase of policy implementation -the Veba Oel contract
- the Veba Oel case - the impact of politics over oil policy-making
- the second phase of policy implementation - PDVSA's consolidation as a multinational
- conclusion - the international expansion of an oil SOE - the balance between politics and coporate strategy.
by "Nielsen BookData"