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Exclusive: Middlemen have left Venezuela's PDVSA with $21.2 billion in unpaid bills
Reuters ^ | 21 Mar 2023 | Marianna Parraga

Posted on 03/24/2023 3:50:19 PM PDT by DUMBGRUNT

The internal disclosure of the enormous amount of unpaid sales - about 84% of PDVSA's total value of invoiced shipments - reveals for the first time the depths of revenue losses due to the withdrawal of established oil company buyers since 2020.

According to documents provided to the office of Venezuela's attorney general during a long-standing audit of PDVSA contracts, out of a total $25.27 billion in oil exports between January 2020 and this month, PDVSA was only able to confirm the reception of $4.08 billion in payments excluding some swaps like the one with Cuba, which means it has only successfully cashed 16% of exports, according to its count.

(Excerpt) Read more at reuters.com ...


TOPICS: Business/Economy; Chit/Chat; Humor
KEYWORDS: enormous
Ralph Kramden said his buddies at the Loyal Order of Raccoons could have managed the account with much better results.
1 posted on 03/24/2023 3:50:19 PM PDT by DUMBGRUNT
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To: DUMBGRUNT

What a crock , our government calling Madero’s re -election a sham....so sanctions are imposed.


2 posted on 03/24/2023 4:07:37 PM PDT by mythenjoseph (Positive outlook)
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To: DUMBGRUNT

Hmm... “I would gladly pay you Tuesday for a tanker of oil today” apparently works in the real world. Good to know.


3 posted on 03/24/2023 4:15:22 PM PDT by Billthedrill
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To: DUMBGRUNT

The buyers paid. The corrupt at the top of PDVSA stole it.


4 posted on 03/24/2023 4:28:30 PM PDT by cpdiii (cane cutter-deckhand-roughneck-oil field trash- drilling fluid tech-geologist-pilot- pharmacist)
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To: DUMBGRUNT

For anyone wondering (like me): PDVSA = Petróleos de Venezuela, S.A. (English: Petroleum of Venezuela)


5 posted on 03/24/2023 7:44:26 PM PDT by Alas Babylon! (Gov't declaring misinformation is tyranny: “Who determines what false information is?” )
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To: DUMBGRUNT

is it too late for Venezuela to apply for a PPP loan?


6 posted on 03/25/2023 1:51:36 AM PDT by Redmen4ever
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To: Redmen4ever

—”is it too late for Venezuela to apply for a PPP loan?”

The word on the streets that thousands already have, does biden need to extend it again?


7 posted on 03/25/2023 4:51:53 AM PDT by DUMBGRUNT ( "The enemy has overrun us. We are blowing up everything. Vive la France!"Dien Bien Phu last messa)
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