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
Billionaire distressed debt investor David Martínez urged Venezuela’s struggling government to default on its bonds days before the country’s surprise announcement to restructure its obligations. Mr. Martínez, who made his Continue Reading
Last week, at the invitation of President Nicolás Maduro, a group of international financiers flew to Caracas to begin what has been called the world’s most complicated debt restructuring, also one of Continue Reading
As Venezuela’s dilapidated energy sector struggles to pump enough crude oil to meet the country’s OPEC output target, rival producers within the exporters group have started to plug the gap, Continue Reading
Veteran Venezuelan opposition leader Antonio Ledezma, under house arrest since 2015 for alleged coup plotting, escaped across the border to Colombia on Friday and later flew to Spain. With a Continue Reading
After rating agencies declared Venezuela in selective default and after a meeting with creditors on debt restructuring failed earlier this week, the International Swaps and Derivatives Association (ISDA)—a finance industry Continue Reading
