Category: Latin America

Venezuelan state oil company PDVSA said on Friday it was making last-minute payments on two bonds close to default, including one backed by shares in U.S.-based refiner Citgo, and called Continue Reading

Venezuela’s state oil company PDVSA has launched a cost-cutting drive aimed at slashing expenses by half as the company continues to struggle with declining oil production and unpaid debts. The Continue Reading

Venezuelan state-run oil company PDVSA  is in contract talks to export natural gas to neighbors Colombia, Trinidad and Tobago, and Aruba, a company official said on Wednesday. Gas sales could Continue Reading

Venezuelan Attorney General Tarek Saab said Tuesday the acting president and five directors of Citgo Petroleum Corp. tried to defraud the nation. American citizens were among the executives at Citgo Continue Reading

Venezuela’s PDVSA is in talks with Russia’s Rosneft, Italy’s Eni, Spain’s Repsol, and Norway’s Statoil to get credit for oil and gas projects, a company executive said on Wednesday, in Continue Reading

The U.S. subsidiary of PDVSA had suffered from unfavorable loans granted by the company’s detained senior officials, chief prosecutor Tarek William Saab said on Tuesday. The accusations are linked to Continue Reading

Now that Venezuela, and its state-owned petroleum company PDVSA, were both officially declared in default on their debt by ISDA last Friday, analysts were closely watching what the insolvent Maduro Continue Reading

Venezuelan authorities on Tuesday arrested the acting president of its U.S.-based refiner Citgo and five of the subsidiary’s top executives as part of a spiraling corruption purge in the OPEC Continue Reading

Venezuela’s state-run PDVSA is siphoning oil from its cash-paying joint ventures with foreign firms to feed its domestic refineries, two sources close to the matter told Reuters, at a time Continue Reading