CARACAS, Monday January 28, 2013 | Update
PUBLIC FINANCE | Pdvsa's chairman said

Venezuelan state-run oil company rules out a US dollar bond sale

The president of Venezuelan state owned oil company Pdvsa noted that the company will not take on further debts via US dollar bond sale

Pdvsa’s debt swelled 14.7% in 2012 (Photo: AVN)
Monday January 28, 2013  04:25 PM
The president of Venezuelan state-run oil company Pdvsa, Rafel Ramírez, said on Monday that the company has no intention of engaging in a new bond issue.

"We are issuing no bonds, and, particularly, we will not continue issuing bonds   to take on debts in US dollars. That is not envisaged," the minister told the press.

The oil company's debt ended in 2012 at USD 40.02 billion, 14.7% above the numbers recorded a year earlier, AFP reported.

Translated by Jhean Cabrera
This is all there is

A simple reason: there is oil galore, would suffice to explain Guyana's actions. Another explanation lies in the little or none efforts made by the Venezuelan government to thwart the move by the Guyanese. This is certainly not a new problem, but a problem only recently highlighted because oil is involved. But what other resources does the disputed area hold? For most of us it is a section on the map with black and white stripes on it, a depiction of something distant, alien, a nothingness not worth paying much attention to in geography classes back in elementary school.

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