Tag: PDVSA

• Friday, January 22nd 2016 - 05:12 UTC

  Banks don't discard credit-short Venezuela will undergo a 'credit event' in 2016

  

  Slumping crude prices have investors and analysts warning of a potential messy default in Venezuela, with state-owned oil company PDVSA owing some US$10 billion in external debt payments due this year. With crude hovering around US$28 per barrel, Venezuela could have trouble satisfying its obligations.

• Monday, October 26th 2015 - 05:34 UTC

  Argentina announced Malvinas basin huge gas prospect off Patagonia

  

  Argentina' Energy company, Enarsa, in association with Venezuela's PDVSA, allegedly has detected very positive natural gas deposits off the Patagonia coast, which according to reports in the Buenos Aires press could be equivalent a third of the country's reserves.

• Wednesday, October 21st 2015 - 06:35 UTC

  Venezuela presents 2016 budget based on a US$40 per barrel estimate

  

  Venezuela's proposed 2016 government budget is based on an estimate of $40 per barrel for the OPEC nation's oil exports, Finance Minister Rodolfo Marco said in a presentation to congress on Tuesday.

• Monday, April 20th 2015 - 23:59 UTC

  China makes effective 5bn dollars loan to Venezuela for 'development plans'

  

  China has awarded Venezuela 5 billion dollars for unspecified “development plans,” President Nicolas Maduro said on Sunday, approximately three months after an official visit to China. According to published reports, the loan is part of a 10 billion deal to be completed in the following months.

• Friday, October 10th 2014 - 05:34 UTC

  WB tribunal rules Venezuela must pay ExxonMobil 1.6bn dollars for 2007 nationalization

  

  A World Bank arbitration tribunal has determined Venezuela must pay ExxonMobil Corp. around 1.6 billion dollars to compensate for a 2007 nationalization, the award posted on the ICSID website on Thursday showed.

• Saturday, August 30th 2014 - 07:10 UTC

  Venezuela cheap oil and fuel shipments to allies fall to a five-year low

  

  Venezuela’s shipments of crude oil and fuel to its allies have fallen to a five-year low as a weak economy hits its ability to uphold accords that former president Hugo Chávez struck to lower energy costs for friends and expand his diplomatic clout.

• Tuesday, August 12th 2014 - 06:10 UTC

  Venezuelan oil company begins operations with China’s Citic Bank

  

  Venezuela’s state-run oil company PDVSA has started using China Citic Bank to collect money from crude and fuel sales instead of Portugal’s Banco Espirito Santo, according to media reports in Caracas.

• Monday, July 28th 2014 - 07:30 UTC

  Cash-short Venezuela considering the sale of its US downstream subsidiary

  

  Venezuela's state-run oil company Petroleos de Venezuela SA (PDVSA) is considering offers to sell its U.S. downstream subsidiary Citgo, industry research group Argus Media reported on its website last Friday.

• Friday, May 16th 2014 - 09:37 UTC

  YPF wants to create a G10 of Latin American state oil companies CEO's

  

  Argentina's YPF CEO Miguel Galuccio proposed on Thursday in Bolivia a G10 of Latin American state owned oil corporations to strengthen their bargaining power based on their resources and development synergy.

• Monday, February 17th 2014 - 09:42 UTC

  Uruguay and Venezuela will further increase energy related cooperation

  

  Uruguay will renew the contract for the purchase of Venezuela oil and accept the stake increase of that country in a local bio-fuels corporation during the scheduled visit of President Nicolas Maduro to Montevideo next month; it was announced by the Uruguayan Foreign affairs ministry.