Ecuador has temporarily shelved its idea to ask from OPEC later this month to be exempt from its share of the production cuts, because the cartel’s supply restrictions are successfully Continue Reading
If the global oil market suddenly loses Venezuela’s 2 million barrels of daily oil production, it would be “a big shock to the system,” according to Dan Yergin, vice chairman Continue Reading
Venezuela’s cash-strapped leftist government has defaulted on sovereign debt and bonds issued by state oil firm PDVSA after failing to make timely payments, a New York-based derivatives group ruled on Continue Reading
Wilmar Castro, Venezuela’s vice president for the economy, and Finance Minister Simon Zerpa, right, attend a briefing in Moscow at the signing of a deal between Russia and Venezuela on Continue Reading
Russia has come to the aid of Venezuela with a deal to restructure $3.15bn of sovereign debt, allowing Caracas to meet obligations to other creditors and underlining Moscow’s role as Continue Reading
Russia is throwing a life-line to defaulting Venezuela after the two countries signed on Wednesday a deal to restructure US$3.15 billion worth of Venezuelan debt owed to Moscow. Under the Continue Reading
Wilmar Castro, Venezuela’s vice president for the economy, and Finance Minister Simon Zerpa, right, attend a briefing in Moscow at the signing of a deal between Russia and Venezuela on Continue Reading
Venezuela won easier debt terms from Russia and got a vote of confidence from China on Wednesday, as the oil-rich country said it had starting making interest payments on bonds Continue Reading
Venezuela’s Vice President Tareck El Aissami, center, speaking on Monday in Caracas during a meeting with bondholders and their representatives. Venezuelan bonds, already trading at distressed levels, fell further on Continue Reading
Venezuela has suffered what is expected to be the first in a cascade of defaults on more than $60bn of international bonds after missing several interest payments. The country on Continue Reading
