(Reuters) - The fourth-largest exporter of oil to the United States depends on its oil industry for the vast majority of its foreign currency reserves, which have dwindled as President Hugo Chavez steps up social spending for the poor majority.
PDVSA's income from oil and product sales was $55 billion last year. Including sales from foreign subsidiaries, such as the U.S.-based refiner Citgo, the figure was $102 billion.
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