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Latin American Economy & Business - July 2016 (ISSN 1741-7430)

Venezuela: The government protects Pdvsa at all costs

Finally published in mid-July, the full 2015 accounts of Venezuela’s state-owned energy company Petróleos de Venezuela SA (Pdvsa) confirm that the fall in crude oil prices has hit cash flow hard. The impact would have been much greater but for the dramatic reduction in the amount of cash being extracted from the company by the government.

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