PdVSA Brings in Foreign Funds

PdVSA Brings in Foreign Funds

Venezuela Loans M&A US Russia

As the markets wait to see how Venezuela's new presidential administration will secure international funding, state-owned oil producer PdVSA has agreed to new debt financing from three sources. PdVSA and Russia's Rosneft have agreed to form a joint exploration venture in Venezuela, the two say, which includes a $1.5bn loan to PdVSA. The Petrovictoria crude oil and natural gas exploration and production joint venture is to be 40% owned by Rosneft and 60% by PdVSA’s Corporacion Venezolana del Petr

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