PDVSA-Langläufer....

Petróleos de Venezuela, S.A.
Unconditionally and Irrevocably Guaranteed by PDVSA Petróleo, S.A.
$3,000,000,000 5.25% Notes due 2017
$3,000,000,000 5.375% Notes due 2027
$1,500,000,000 5.50% Notes due 2037
The $3,000,000,000 5.25% Notes due 2017, $3,000,000,000 5.375% Notes due 2027 and the $1,500,000,000 5.50%
Notes due 2037, or the Notes, are being offered by Petróleos de Venezuela, S.A., or PDVSA or the Issuer, a corporation
(sociedad anónima) organized under the laws of the Bolivarian Republic of Venezuela, or Venezuela. The Notes will be
unconditionally and irrevocably guaranteed, or the Guaranty, by PDVSA Petróleo, S.A., or the Guarantor, a corporation
(sociedad anónima) organized under the laws of Venezuela that is wholly owned by PDVSA. The Notes and the Guaranty will
be the unsecured, senior obligations of the Issuer and the Guarantor and will rank pari passu with all other senior unsecured
obligations of the Issuer and the Guarantor, in each case other than obligations granted preferential treatment pursuant to the laws
of Venezuela.
The Notes will mature on April 12, 2017, April 12, 2027 and April 12, 2037 and will bear interest at the rate of 5.25%,
5.375% and 5.50% per annum payable semiannually on each April 12 and October 12, commencing on October 12, 2007. The
Issuer may redeem the Notes in whole or in part at any time or from time to time by paying the principal amount of the Notes and
a “make-whole” amount, if applicable plus accrued interest. See “Description of Notes–Redemption.”
See “Risk Factors” beginning on page 12 to read about factors you should consider before buying the Notes.
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Price: 105.5%
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Application has been made to list the Notes on the Official List of the Luxembourg