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Home » The Decline of Venezuela’s Oil Giant Under Political Corruption and the Quest for Renewal

The Decline of Venezuela’s Oil Giant Under Political Corruption and the Quest for Renewal

In the latest episode of “Desde USA con Dámaso Jiménez,” we dive into the impactful documentary “PDVSA: A Story of Growth, Collapse, and Hope,” directed by renowned filmmakers Thaelman Urgelles and Mariela Roncayolo.

This production commemorates the 50th anniversary of the country’s leading industry, narrating how a company that was once a symbol of modernity, efficiency, and national pride ended up as a shadow of its former self, weighed down by political control and corruption tied to chavismo.

The documentary features testimonials from key figures like Horacio Medina and Pedro Mario Burelli, who provide an insider’s view of PDVSA’s rise, intervention, and eventual downfall—a narrative that mirrors the story of Venezuela itself. Through archival footage and personal stories, the work reveals the decisions that led to the technical and moral collapse of what was once among the three most powerful corporations on the planet.

However, beyond the lament, Urgelles and Roncayolo present a hopeful reflection: the real possibility of a petroleum renaissance in a democratic transition, with the recovery of assets like Citgo and an opening to talent and private investment.

We invite you to listen to this episode and uncover the details of this crucial story on our YouTube channel VenezuelaUSA, where we continue to connect the diaspora with the reconstruction of the country.