This annual report highlights the various initiatives and activities undertaken in 2011 to meet our members current and future oil spill preparedness and response needs in this new and challenging era paul a. Picking through the crazy in pdvsas financial statement. Maximum revenue retained by pdvsa to cover local expenses. To request a hard copy of the annual report, fill out the order form. Pdvsa, the countrys staterun oil and natural gas company. The iachr decided to include the bolivarian republic of venezuela hereinafter venezuela or the state in chapter iv of its 2011 annual report pursuant to article 591h of its rules of procedure. Implementation of projects begun in the reporting year will substantially expand the companys resource base and enable rosne. Venezuelas batteredandbruised public oil company published its 2016 consolidated financial statements late at night last friday. Eni annual report letter to shareholders continue pressuring profitability driven by. Nynas ab is a swedish manufacturer of specialty naphthenic oils and bitumen products. Other reports 9th parliament ministry of finance guyana. This annual report includes the report of enis board of directors and enis consolidated financial statements for the year ended december 31, 2010, which have been prepared under the international financial reporting standards ifrs, as adopted by the european union.
Pdvsa used to own a 50% stake in the louisiana chalmette refinery, but in 2015, exxonmobil and pdvsa reached an agreement with pbf energy for the sale of the refinery. Pdf direct distribution of oil revenues in venezuela. Until 2011 the revenues from production assigned to energy agreements were. Accro expansion of eastern cryogenic complex, phase ii, anzoategui state, venezuela. Mar 24, 2014 in august 2010, pdvsa, venezuelas state oil company, published this annual report. Industryspecific and extensively researched technical data partially from exclusive partnerships. According to pdvsas annual report 2011, venezuela produced on average 2. See note 12 to the consolidated financial statements. Outpatient antiioti presriptions united states, 2011. Ims health captures 70% of outpatient prescriptions nationally, reconciles them to wholesale deliveries, and projects to 100% coverage.
Over 45,000 partners and staff have been recruited around the world over the last year, taking the total number of. Currency usd issue date october 28, 2009 april 12, 2007 october 29, 2010 november 17, 2011 tenor at issue 6 years 10 years 7 years 10 years time remaining till maturity 2. An assessment of the financial and operational situation of. As of december 31, 2012 and 2011, the cumulative amount not recognized by. See page 51 for a reconciliation of net sales growth to organic sales. We also began implementation of a number of strategic initiatives, which have already yielded positive results in the reporting year. Construction of a third line with a capacity of 35,000 bpd to increase the ngl fractionation capacity and a second natural gas fractionation line at the liquids extraction plant. Venezuelapdvsa monthly report august 2017 higher risk of a total standstill in the venezuelan debt market, brough either by more counterparties suspending their trading activity, or by the us government imposing a direct prohibition on capital andor interest payments on bonds, a situation that might trigger a credit event even in.
Many pdvsa workers migrated to colombia and joined ecopetrol, and are credited with helping the company attain huge profits throughout the 2010s. There is a longstanding appreciation at the alliance that health systems research is a means to an end. Our 2011 corporate social responsibility report tells our story and. Pdvsa annual report 2015 part 1 oil and gas venezuela, bolivarian republic of this document is part of the source library for nrgis national oil company database, an open database of facts and figures on more than 70 national oil companies worldwide. With respect to our obligations as coregistrant of pdvsa finance ltd. This annual report includes the report of enis board of directors and enis consolidated financial statements for the year ended december 31, 2009, which have been prepared under the international financial reporting standards ifrs, as adopted by the european union. In addition to being venezuelas largest employer, pdvsa accounts for a significant share of the countrys gross domestic product gdp, government revenue, and export earnings. Year pdvsa petrotrin bpd % 2012 6,915 76% 2,212 24% 20 4,376 51% 4,221 49%. Aug 28, 2019 industryspecific and extensively researched technical data partially from exclusive partnerships. Later regulation created pdvsa subsidiaries for this purpose.
As a result, all property and interests in property of pdvsa subject to u. Overview in a highly inflationary context with exchange controls, the cost of operations in venezuela has increased over recent years. Manzano, osmel, forthcoming 2011, venezuela after a century of oil exploitation in. One of the companys largest and most promising oil fields is priobskoye llc gazprom neftkhantos, where production growth rates are higher than at any other company field. Consolidated financial statements consolidated financial statements 7. In august 2010, pdvsa, venezuelas state oil company, published this annual report. For bonds issued in octuber 2010 and january 2011, with an anual interest rate of 8. Eighty percent of these households reported absent or decreased income, housing costs and medical expenses as. Profit and loss account 2012 2011 operating revenue 1 777 9 1 867 914. Pdvsa annual management report 2015 datasets resourcedata. This annual report includes the report of enis board of directors and. Pdvsa financial statements, pdvsa annual report and own calculations section 1.
The companys 2020 notes are backed by a firstpriority lien on a 50. A substantial group of workers from pdvsa and its venezuelan. Pdvsa investment surged in 2011, missed goal and other annual. Pdvsa, put into action with this important commitment of. Total output by llc gazprom neft khantos in 2011 was 10,849,000 t, which is 10.
The liquidity position of pdvsa improved in 2011 over 2010 and shows that pdvsa is capable of paying its obligations should they become due. Similarly, the sweeney, texas refinery is no longer part of pdvsas refining portfolio since september 2015, when federal court in new york ruled that conocophillips is the. Pdvsas refineries will operate at 43% of capacity in march 2018 due to lack of spares, feedstock, and light crude. Pdvsas financial statements for 2016 are in, and its all sorts of fun if youre into suffering and crying. Therefore, the company restated its consolidated financial statements for the years ended as of december 31, 2012 and 2011. Pdvsa investment surged in 2011, missed goal and other annual report stuff. Pdvsa established a joint venture for developing the giant junin 5 oilfield, located in the orinoco oil belt with certified volumes of oil. Founded in 1928 as a national oil company with a traditional range of products, the company today also supplies specialist products and niche markets. Energy ministry and pdvsa and replaced them with a general and a former housing minister, respectively. Pdvsa qbe risk improvementrecommendations update report r. Reference should be made to the october 2010 underwriting report for further detailsof the risk. Annual report 2010 annual report 2010 investor relations piazza ezio vanoni, 1 20097 san donato milanese milan. Pdvsa annual management report 2015 this document is part of the source library for nrgis 2017 resource governance index, a comprehensive measure of the quality of natural resource governance in 81 oil, gas and mineralrich countries. Venezuelas annual report on form 18k to the us securities and exchange commission for the fiscal year ending 31 december 20 recognizes the existence of consolidated public sector deficits of 17.
In february 2011, production startup was achieved at the nikaitchuq. As a result, the number of venezuelans in alberta has risen from 465 in 2001 to 3,860 in 2011. The decision by pdvsa to pursue these claims in the united states at this time via a. Annual report 2011 presidents address presidents address dear shareholders, the company. Pdvsas financial reports for 2009 state that no money was transferred to. We celebrated our 40th anniversary of providing lowfare, high quality commercial air service. The target for fid is q4 2011, and the production start target is q4 2016.
For those of you who can be dicked with this sort of thing, here are the reports, all in pdf format in spanish. Annual report on annual reports 2011 land securities n 11 bricks i. The theme for the 2011 annual report, responding to the needs of decisionmakers, is an appropriate and timely one. Pdvsa investment surged in 2011, missed goal and other. Annual report 2011 chairmans address chairmans address dear shareholders, rosne.
Pdvsa asks bondholders to waive financial reporting. These successful operations have been duly noted by the industry, and we continue to. The 2010 2011 fiscal year was a time for resizing inelectra as an engineering and. We launched an all new, industryleading, frequent flyer program in march. Securities registered or to be registered pursuant to section 12b of the act. Javier ruiz led the reporting of this piece, together with barbara lira, pedro rosas, francisco toro, javier liendo, and daniel urdaneta. Systemic oral antibiotics were extracted from the ims health xponent database.
The 20102011 fiscal year was a time for resizing inelectra as an engineering and construction company focused on the venezuelan market. Pdvsa asks bondholders to waive financial reporting requirements. Guyana oil company annual report for the year 2010. Many expdvsa employees moved to alberta, where the oil consistency is similar to that of the orinoco. Pdvsas strategic plan, as outlined by its 2008 financial report, includes. Pdvsa finance ltd annual and transition report foreign. Pdvsa recognized the effect of the revised international accounting standard 19 employee benefits, which shall be applied retrospectively and for annual periods beginning on or after january 1, 20. Still, investment is investment and its something that actually matters for a state oil company, unlike net income. Outpatient antibiotic prescriptions united states, 2011. Pdvsa and corpoelec, by fostering professional and business links at all levels. The debt to equity ratio illustrates that pdvsa has been increasingly financing its growth with debt while the interest coverage ratio shows that the company. Fuel oil from pdvsa and petrotrin was skewed towards petrotrin in 2015 when compared to the previous year.
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