Related Articles
Forward article link
Share PDF with colleagues

Deals and prayers in Venezuela

A bond swap has staved off the immediate threat of default, but the downward spiral continues

Venezuela's financial and political crisis continues to smoulder. Low oil prices have exposed the gutted shell of an economy left in a destructive deadlock. President Nicolás Maduro and oil chief Eulogio del Pino had been riding their hopes on an Opec agreement in Vienna. Following the deal's announcement, against which Venezuela's January production quota will be 1.972m barrels a day-compared with an October base-line of 2.067m b/d-del Pino spoke of $60-$70 oil. For a country that has seen output drop by nearly 20% since the end of 2014, it's more than just wishful thinking: times are getting desperate. The global oil price and domestic output drop has left state oil company PdV's finance

Also in this section
Gulf Publishing appoints new Group Publisher
8 November 2017
Brian Nessen joins Gulf Publishing Company as Group Publisher for pipelines and infrastructure group
Germany's smart connections
1 November 2017
The global energy system is entering a new, more collaborative phase. And Germany is leading the change, explains Andreas Kuhlmann, Chief Executive of the Deutsche Energie-Agentur (DENA)
Repsol: Energy in a digital world
26 October 2017
The rise of digitisation, data analytics especially, will help to meet rising energy demand, Repsol’s CEO Josu Jon Imaz says