PETROLEOS DE VENEZUELA AND SUSTAINABLE DEVELOPMENT J. C, Sanchez, A. Ariselmi, H. Santana, M. Gunthalez and J. Carrazza Petrleos de Venezuela, S.

A, Caracas, Venezuela Petrleos de Venezuela and Sustainable Development This paper describes some of the initiatives that are conducted by Petrleos de Venezuela, in order to integrate the concept of Sustainable Development (SD) in its way of conducting activities. These initiatives are focused mainly towards the Green Management and Image Vision That has been set forth by the Corporation and is oriented by the internal Safety. Health and Environment (SHA) Policy The SD concept is mainly a commitment to an economic development that o aligned with social progress and environmental conservation. It is also a means to create business value in terms of reduction of costs, enhancing the brand thanks to a god public image and reducing risks. Petrleos de Venezuela recognizes that today excellent environmental performance and social care are significant elements of business success, and that these challenges are going farther than the building of public reputation to completely integrate the Company to the communities where the operations are conducted and be part of their progress. Three examples of initiatives involving contribution of environmental end social values to various regions in Venezuela are described. These are: the prograrn for river basins protection, the project for reuse of domestic wastewater from the North of Maracaibo city to supply industrial water to the Zulia Petrochemical Complex, and the R&D efforts for new more efficient and cleaner fuels. These are examples that will certainly provide benefits for the company and for the local communities as well,