摘要：This article analyzes the growth strategies of Petróleos de Venezuela (PDVSA) using an industrial organization theory. In the upstream segment PDVSA associations are done in the exploration and production of oil in Venezuela. This amplifies its competitive position through economies of scale, access to new technologies, equipment, risk, cost and profit sharing. The downstream segment integration happens through joint ventures in refining activities and stocking, distribution and commercialization of oil derivatives. These strategies have consolidated the Venezuelan oil Industry through a vertically integrated structure of associations, following what would be expected in the logic of the new institutional economics.
关键词：economia industrial;Nova Economia Institucional;Petróleos de Venezuela;integração vertical;custos de transação;industrial economics;New Institutional Economics;Petróleos de Venezuela;Vertical integration;transaction costs
