Founded on this day in 1976 in concert with the nationalisation of the oil industry and the take over of more than thirty foreign operations, including Exxon, Mobil and Gulf, the state owned Petróleos de Venezuela (Sociedad Anónima, a limited public company) 
manages the largest hydrocarbon reserve in the world and oversees day-to-day of the fifth biggest exporter of petroleum, formalised as a promise of the ongoing social movement of the Bolivarian Revolution begun by Hugo Chávez and continued by his successor Nicolás Maduro as a stand against neo-colonialism, record profits generated during the OPEC embargo by Middle East producers from three years earlier. Although many cite focus on political programmes to the detriment of technical know-how and inefficiencies in extraction and refining—as well as fostering endemic corruption—the accusations do seem rather pedestrian and rather like a projection for those excluded from exploiting this resource and relentless attempts to thwart the enterprise with sanctions and diplomatic isolation.
synchronoptica
one year ago: a Parisien pocket interpreter, more future forecasts, Public Domain Day plus assorted links to revisit
two years ago: a tribute to celebrity deaths (with synchronopticæ) plus cinema and literature set in 2024
nine years ago: New Year’s salutations, more Public Domain Day, the International Date Line, seed banking, vintage disruptive technology plus the Japanese art of not sleeping
ten years ago: more New Year’s greetings, more links to enjoy plus more on animal cognition
eleven years ago: a past year pop-quiz, the Eurasian Economic Union plus the power of admitting contraction
twelve years ago: pig dogs plus the Order of the Ursulines
thirteen years ago: a 1987 retrospective plus guided by an occult hand
fifteen years ago: champagne and krimskoye
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