Tag Archives: Venezuela

Oil sales generate 96 percent of Venezuela'.s hard currency earnings.

Lebanon. Egypt. Pakistan and Bahrain — haven’t recorded a default event since their independence.

In 2015. PDVSA sought to sell Citgo but was unable to find a buyer.

The Venezuelan economy has been in recession for four years. where food shortages. the lack of U.S. dollars and the depreciation of its own currency. has sent inflation soaring.

PDVSA made an overdue $1.1 billion bond principal payment this week.

Argentina’s government in the meantime has been putting a lot of efforts into accelerating the exploitation of the country’s oil resources.

Venezuela lost the top spot to Brazil amid triple-digit inflation. unpaid debts to oil-service companies and lack of investment.

Schlumberger has about $700 million at risk. including receivables and a promissory note for past work.

Output is falling. cash is drying up and oil workers have fled the country because of food shortages and violence.

Halliburton said last year that it began scaling back operations in Venezuela as a result of delayed payments.