WATCHING GOVERNMENT VENEZUELA'S WATERSHED ELECTION
With Patrick Crow from Washington, D.C. When Venezuelans vote for a new president Dec. 5, they also will chart the country's approach toward foreign investment in Venezuela's petroleum sector, notably with state oil company Petroleos de Venezuela SA. Pdvsa is crucial to the Venezuelan economy. Oil accounted for 79% of the country's total exports in 1992, and Pdvsa had consolidated sales of $21.4 billion in 1992, making it one of the world's largest oil companies.