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Latin American Economy & Business - August 2015 (ISSN 1741-7430)
Venezuela: Pdvsa’s cash crisis
Venezuela’s state-owned energy company, Petróleos de Venezuela SA (Pdvsa), barely generated any cash from its unprofitable oil and gas operations in 2014, when the average oil price received from its export customers was US$88/barrel (/b). So, what happens now that the global oil price has plunged to around US$41/b?
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