CARACAS--Venezuela's state energy giant Petroleos de Venezuela
posted net income of $4.2 billion in 2012 as the company took in
revenue of $124.4 billion, Oil Minister Rafael Ramirez told
reporters Friday.
The company made investments of $24.5 billion last year in the
local industry and plans to invest around the same level in
2013.
Mr. Ramirez said that PdVSA, as the company is known, will
publish its audited financial report on Monday.
Speaking at the PdVSA headquarters in Caracas, the minister also
shot back at a string of media reports in recent weeks that
indicated that some of the company's foreign partners are losing
patience with long-delayed payments from the Venezuelan
government.
PdVSA owed its various service providers more than $16 billion
at the end of 2012, Mr. Ramirez said.
Mr. Ramirez, who doubles as PdVSA's chief, said that he had
recently been visited by heads of Schlumberger (SLB), and received
letters from Russia's Lukoil (LUKOY, LKOH.RS) and India's ONGC
Videsh, all of which reaffirmed their commitment to working in
Venezuela.
"We are facing an economic war," the minister exclaimed, blaming
the recent reports on media speculation. He added that he and his
advisers were being bombarded by negative headlines on Venezuela's
oil industry, which he called "an attack" on the country.
Write to Kejal Vyas at kejal.vyas@dowjones.com
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