En Español

Very usefull links


News links




Dow Jones

Oil price



Views and News





PDVSA begins making some delayed bond interest payments



By Reuters Staff

Petroleumworld 12 18 2017

Venezuelan state oil company PDVSA said late on Thursday it had begun the process of making interest payments on four of its bonds, asking investors to trust the company's “financial capacity” following repeated payment delays.

The cash-strapped company has for months struggled to make timely payments on its heavily discounted bonds, in part because U.S. sanctions have made banks wary of being involved in any Venezuela-related operations.

President Nicolas Maduro in November announced a restructuring of all foreign debt amid an economic crisis. Venezuela and PDVSA bonds continue to be serviced, albeit with delays.

“PDVSA calls on bondholders and investors to trust the logistical, productive and financial capacity of the industry, which has fulfilled all of its commitments,” PDVSA said via Twitter. “We ratify the solvency of our oil industry, which is fighting against illegal imperial sanctions.”

PDVSA on Friday must complete a $135 million coupon payment on its 2026 bond. On Monday, it faces $404 million in interest on bonds maturing in 2021, 2024 and 2035.

The four coupon payments were due in November, but PDVSA invoked a 30-day grace period.

The company's bonds have in the past slipped into default due to payment delays. Investors so far have avoided taking action against the company because most believe that Maduro's government will eventually make the payments.


Reporting by Deisy Buitrago; Editing by Mark Potter from Reuters.

reuters.com 12 15 2017

We invite all our readers to share with us
their views and comments about this article.
Write to editor@petroleumworld.com

By using this link, you agree to allow PW
to publish your comments on our letters page.

Any question or suggestions,
please write to: editor@petroleumworld.com

Best Viewed with IE 5.01+ Windows NT 4.0, '95,
'98,ME,XP, Vista, Windows 7,8,10 +/ 800x600 pixels





Contact: editor@petroleumworld.com,

Editor & Publisher:Elio Ohep/
Contact Email: editor@petroleumworld.com

CopyRight © 1999-2016, Paul Ohep F. - All Rights Reserved. Legal Information

PW in Top 100 Energy Sites

CopyRight©1999-2017, Petroleumworld ™  / Elio Ohep - All rights reservedThis site is a public free site and it contains copyrighted material the use of which has not always been specifically authorized by the copyright owner.We are making such material available in our efforts to advance understanding of business, environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have chosen to view the included information for research, information, and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission fromPetroleumworld or the copyright owner of the material.