Bloomberg reported that Petroleos de Venezuela SA (PDVSA) reported a decrease of less than 1% in sales last year amounting to $124.4 billion as it sells more oil in its home country instead of aiming for higher export prices.
As quoted in the market news:
PDVSA, as the company is known, had revenue of $124.4 billion in 2012, down from $124.8 billion in 2011, Ramirez told reporters in Caracas today. The company’s net income decreased to $4.2 billion last year from $4.5 billion. PDVSA will publish 2012 financial results on March 25, said Ramirez, who is also the company’s president.