The Russian invasion of Ukraine has generated important changes in global geopolitics. A side effect has been increased volatility in the global energy market and a consequent resurgence of hydrocarbon industry interests.
The Russian invasion of Ukraine and its impact on the international energy market has opened a new political scheme that the Venezuelan dictatorship will try to take advantage of by positioning itself, after years of sanctions and international isolation.
At the end of the 1990's, before Chávez came to power, PDVSA was ranked as the fourth most important oil company in the world according to the American Petroleum Institute's ranking. Today it occupies the last place among 253 oil companies.