First published in 1999, this volume focuses on the impact of democratic bargaining on the process of oil policy-making in Venezuela, stressing the constraints posed by politics on PVDSA’s efforts to expand its foreign operations. Venezuela offers a unique case and fertile ground for the study of oil policy-making processes. In the specialised literature, very little attention has been paid to the nature and operations of multinationals from developing countries. By analysing Petróleos de Venezuela, S.A. (PVDSA)’s international policy, this unique book explores the difficulties encountered by a major state oil enterprise in its efforts to grow beyond national borders.