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The ugly truth about PDVSA

Pdvsa, the third-largest company in Latin America, is in trouble. The state-owned company is facing a one-two punch: declining production and growing financial demands from Venezuela’s cash-starved government. “The cash flow that the government takes from Pdvsa is very high,” says Lucas Aristizabal, an analyst with Fitch Ratings in Chicago. “That includes the royalties, taxes, […]
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