A US appeals court blocked Tuesday the enforcement of a multi-million dollar award against Venezuelan state oil firm PDVSA, citing procedural concerns.
Venezuela’s opposition-controlled National Assembly has threatened not to pay US $2.8 billion in PDVSA bonds purchased by Goldman Sachs through a third party broker this week.
Senior management figure Marco Malavé (47) was charged with causing “irregularities” in the country’s domestic fuel market following widespread gas shortages last week.
Minister of Finance, Industry and Commerce Ramón Lobo confirmed in an interview this week that Venezuela will meet its debt payments for 2017 in light of this year’s rise in global oil prices.
Venezuelan state oil company PDVSA signed a US $2.2 billion investment deal Thursday with China’s National Petroleum Company (CNPC) to increase production by 227 thousand barrels per day (BPD).
Venezuela’s state oil company PDVSA signed the financing agreements with the Indian government’s Oil and Natural Gas Corporation (ONGC) and local company Delta Petroleum on Friday.
PDVSA President Eulogio Del Pino hailed the deal as a “victory over the onslaught of internal and external elements that wagered on a negative result for the company and the country”.
