|Venezuela||US$ 0.8 Billion||Origin: Oil|
Transparency Rating: 1
View Sovereign Fund Transaction Data
|Firm Investment Style: N/A
Entity Structure: Fund
Strategy & Objectives
Governance[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]
Oil revenues above the oil reference price are transferred to the sovereign wealth fund.
If oil prices drop below the reference price, the fund transfers revenues to the treasury to substitute the revenues it would otherwise have received if oil prices had been stable.
By December 2001, the fund had US$ 7.1 billion in assets. In 2003, the government tapped into the fund to cover the fiscal budget, more than US$ 6 billion was withdrawn.