PDVSA

This tag is associated with 8 posts

Crisis In Venezuela — A Lesson From Saudi Arabia

By Eric Simmons President Nicolás Maduro has implemented measures such as shortened workday, increased federal holidays and scheduled blackouts in an attempt to reduce energy consumption across the country amidst a nationwide energy crisis brought on by severe drought. However, the energy crisis is only a microcosm of the Venezuelan economy and regardless of oil’s recovery, the … Continue reading

Russia, Venezuela Agree On $14 Billion Oil And Gas Investment Deal

Venezuelan President Nicolas Maduro says his country has reached an agreement with Russia which will bring $14 billion in investment to its oil and gas sector over the next few years. The agreement was reached between the Venezuela’s state oil firm, PDVSA (Petroleos de Venezuela) and the Russia’s oil giant Rosneft, following talks in Caracas, between Maduro, the president of … Continue reading

U.S. Federal Court Declares Venezuela In Default Over $740M Claim

By Pedro García Otero The US Federal District Court for the District of Columbia has entered a default ruling against Venezuela, after the South American country failed to respond in time to a demand introduced by Gold Reserve Inc. The Canadian gold mining firm is seeking to confirm a US$740 million arbitration made in its favor by the International … Continue reading

China Set To Loan $10 Billion To Cash-Strapped Venezuela

China is set to lend the cash-strapped nation of Venezuela around $10 billion in the coming months, Reuters reported on Thursday, citing a senior official at Venezuela’s state-run oil company PDVSA who is familiar with the matter. According to the senior official, half of the loan will be part of a bilateral financing deal with the other half … Continue reading

Revolution, Counter Revolution, And The Economic War In Venezuela

By William Camacaro and Frederick B. Mills Introduction: A Decisive Battle is at Hand In a speech outside the Miraflores palace on January 17, 2015, upon his return from a twelve day trip abroad, President of the Bolivarian Republic of Venezuela Nicolas Maduro Moros addressed an expectant crowd of well wishers. Seizing the moment in … Continue reading

Petrobras’s Lesson For Latin America

By Hana Fischer In the wake of the scandal surrounding Brazil’s state-run oil company Petrobras, we would do well to analyze the role of state enterprises in the Americas. Codenamed Lava Jato, or “car wash,” the investigation into Petrobras operations by police and public prosecutors revealed a colossal corruption scheme involving former top executives, construction companies, and … Continue reading

In Venezuela, Crackdown Continues As Maduro’s Approval Declines

By Sergio Rojas Amid a period of deep economic uncertainty and a decrease in public support, Venezuela’s government has continued to blame the country’s problems on conspiracies by the right while also pursuing a strategy of targeted de-legitimization. The opposition may not be powerful enough to present a viable option to the electorate – at … Continue reading

Venezuela Likely To Default In 2015 As Oil Prices Continue To Fall: SocGen

Venezuela will likely default in 2015, possibly in the first quarter, as crude oil continues to tumble, according to Societe Generale (SocGen). “The move in oil reinforces my view that Venezuela is likely to default, with some probability in the first quarter and with a very high probability in the last quarter of next year,” Regis … Continue reading

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