http://www.forbes.com/feeds/ap/2007/04/03/ap3579487.html
Associated Press
“PDVSA Raises Record $7.5B in Bond Sale”
Associated Press 04.03.07, 3:37 PM ET
ARTICLE SNIPPET: “Venezuela’s state oil company has raised a record US$7.5 billion (euro5.6 billion) from its latest bond sale, far above what it initially expected, and the largest ever bond sale by the South American country.”
http://english.eluniversal.com/2007/04/03/en_eco_art_exxon-renames-projec_03A851623.shtml
“Exxon renames project in Orinoco oil belt”
ARTICLE SNIPPET: “Exxon Mobil is to change the name of its Venezuelan operator running a project of heavy crude oil, as a previous step to the government takeover of the upgrading facilities, said the US company in a press release published Tuesday.
Exxon created in March a transition taskforce to hand over state-run oil holding Petróleos de Venezuela (Pdvsa) its operations in the Cerro Negro project by May 1st, in accordance with President Hugo Chávez’ nationalization order for the four upgrading sites in Orinoco oil belt, Reuters reported.
Exxon posted a notice on the Venezuelan media to advise customers that as from April 13th the invoices should be addressed to the new “Transition company for the delivery of operations in Cerro Negro project.””
UPDATING POST NO. 111 - More Details:
http://www.forbes.com/feeds/ap/2007/04/03/ap3579487.html
Associated Press
“PDVSA Raises Record $7.5B in Bond Sale”
Associated Press 04.03.07, 3:37 PM ET
ARTICLE SNIPPET: “Such dollar-denominated bonds are sought by Venezuelan businesses and individuals because they allow a way to acquire the U.S. currency amid strict currency controls. The bonds can be bought in Venezuelan bolivars and resold overseas for dollars.”