Petroleos de Venezuela’s Record Revenue of $128 Billion

Bloomberg reported that Petroleos de Venezuela SA has announced a record annual revenue of $127.8 billion in 2011.

As quoted in the market news:

The record revenue posted in 2011 came amid the highest average annual price in Venezuela’s history. Venezuela’s oil export basket price averaged $101.06 a barrel last year compared with $71.97 in 2010, according to the Oil Ministry. PDVSA posted revenue of $126 billion in 2008.

Click here to read the full Bloomberg report.