Sentences with phrase «state oil company pdvsa»

The minister heads the state oil company PDVSA, which is in desperate need of a hike in fuel revenues and favorable financial ratings to fund imports of consumer goods and medical supplies for its citizens and to keep the socialist government's public services afloat.

The Venezuela state oil company PDVSA, which has borrowed more than $ 6bn from Kremlin - controlled Rosneft, caused consternation in Washington last year after putting up a 49.9 percent stake in its US - based refining subsidiary, Citgo, as collateral against a portion of the loan.

State oil company PDVSA sweetened earlier terms and is now offering more bonds maturing in 2020 in exchange for $ 5.3 bln worth coming due next year.

The corporate logo of the state oil company PDVSA is seen at a gas station in Caracas, Venezuela March 18, 2018.

FILE PHOTO: A man wears a cap with the logo of PDVSA as he attends the swear - in ceremony of the new board of directors of Venezuelan state oil company PDVSA in Caracas, Venezuela January 31, 2017.

CARACAS Venezuelan state oil company PDVSA has sued a group of oil trading companies through a U.S. trust over a multi-billion dollar corruption scheme to buy petroleum products below market value, the lawyer representing the trust said on Thursday.

Venezuela's Information Ministry and state oil company PDVSA did not respond to a request for information about the...

Another uncertainty is Venezuela, where the state oil company PDVSA has seen its production cut in half as its economy teeters and its ability to pump and process crude deteriorates.

Not exact matches

U.S. oil major Chevron Corp has evacuated executives from Venezuela after two of its workers were imprisoned over a contract dispute with state - owned oil company PDVSA, according to four sources familiar with the matter.

Potential U.S. sanctions on sales of light crude to Venezuela's oil company PDVSA would hamper its already weak refining network while leaving at least one tanker in limbo, according to a source from the state - run firm and Thomson Reuters data.

«We express our solidarity with the Americans affected by the hurricane,» Arreaza said, flanked by Nelson Martinez, the head of state - run oil company PDVSA.

HOUSTON / CARACAS, April 23 - Two Chevron Corp. employees detained in Venezuela last week could be charged with treason for refusing to sign a parts contract for a joint venture with state - owned oil company PDVSA, according to two sources familiar with draft charges against the U.S. firm's executives.

The U.S. oil company removed executives from Venezuela after two of its workers were imprisoned over a contract dispute with state - owned oil company PDVSA.

U.S. oil major Chevron Corp has evacuated executives from Venezuela after two of its workers were imprisoned over a contract dispute with state - owned oil company PDVSA.

Two Chevron employees detained in Venezuela last week could be charged with treason for refusing to sign a parts contract for a joint venture with state - owned oil company PDVSA, according to two sources familiar with draft charges against the U.S. firm's executives.

Two Chevron employees detained in Venezuela last week could be charged with treason for refusing to sign a parts contract for a joint venture with state - owned oil company PDVSA, according to sources familiar with draft charges against the executives.

August saw the US's most drastic action, restricting the Venezuelan government's access to the US financial system, preventing it and the state oil company, PDVSA, from issuing new debt in US dollars.

PDVSA is a state - owned oil and natural gas company which, in addition to the Venezuelan government, is also the target of U.S. sanctions.

HOUSTON, April 25 An international arbitration court has ordered Venezuela's state - run oil company PDVSA to pay ConocoPhillips $ 2.04 billion for early dissolution of two joint ventures for producing oil in the OPEC - member country, the U.S. firm said on Wednesday.

Today's executive order almost explicitly targets the petro, an oil - backed cryptocurrency tied to Petróleos de Venezuela, S.A. (PDVSA), a Venezuelan state - owned oil and natural gas company.

What's going on is that thousands of oil workers are fleeing the state - run oil firm under the watch of its new military commander, who has quickly alienated the firm's embattled upper echelon and its rank - and - file, according to union leaders, a half - dozen current PDVSA workers, a dozen former PDVSA workers and a half - dozen executives at foreign companies operating in Venezuela.

They wanted a word with the OPEC nation's oil minister and president of its state - run oil firm, PDVSA [PDVSA.UL], about the sorry state of the company.

The statement from the U.S government is widely interpreted as a threat to sanction state - owned oil company PDVSA, the government's main source of revenue.

State oil company Petroleos de Venezuela, commonly known as PDVSA, on Sept. 26 sweetened terms of a debt swap, offering to exchange more bonds maturing in 2020 for $ 5.3 billion worth that mature in 2017 after investors balked at an earlier $ 7.1 billion one - for - one proposal.

The Venezuelan government and its state - run oil company, PDVSA, both defaulted on certain bonds in November, according to ratings agencies.

American ratings agencies, such as S&P Global, declared Venezuela and its state - run oil company, PDVSA, in default this week.

Goldman Sachs defended its action, saying it bought the bonds — issued in 2014 by state - run oil company PDVSA — with the hope that life in Venezuela will improve.

However, Major General Manuel Quevedo has only accelerated the decline of PDVSA, which once held a reputation as one of the better managed state - owned oil companies in the world.

The first phase of sanctions targeted individuals, but these new measures prohibits U.S. institutions from trading new bonds with the government of Venezuela or state - owned oil company PDVSA, a move intended to choke off the regime's finances.

It also said it may appeal Wednesday's ruling by the International Chamber of Commerce (ICC) against Venezuela's state - run oil company PDVSA.

75 percent of its 1.8 million hectares — which includes both the park itself and a «Natural Area of Integrated Management» (NAIM)-- are overlapped by oil and gas concessions held by Spain's Repsol, Brazil's state oil and gas company Petrobras, and PetroAndina, a joint venture between the Bolivian and Venezuelan state companies, YPFB and PDVSA.

Russian loans have allowed the regime to remain afloat despite years of massive corruption, allegations of endemic drug trafficking by government officials and their families, and gross economic mismanagement of the country's state oil company, PDVSA.