Venezuela's oil: Who controls it after Maduro's arrest?

State-owned Petróleos de Venezuela (PDVSA) is reported to control the majority of the country's oil production and reserves, and foreign firms including Chevron and Russian and Chinese partners operate through joint ventures.

Nicolás Maduro's arrest has refocused attention on Venezuela's oil sector. The development has led investors and observers to reassess who controls the country's crude resources and whether production can be meaningfully revived after years of decline. Industry commentary in the article states that PDVSA still holds majority control while foreign partners maintain operations through joint arrangements. What is known: - Petróleos de Venezuela (PDVSA) controls the majority of Venezuela's oil production and reserves, according to a quoted industry analyst. - Chevron operates in the country through its own production and a joint venture with PDVSA. - Russian and Chinese firms participate in Venezuelan oil projects through partnerships. - Maduro's arrest has prompted renewed market attention and reassessments of control and revival prospects. Summary: The arrest has drawn market scrutiny to ownership and operational stability in Venezuela's oil sector and led investors to reassess prospects for output recovery. Undetermined at this time.