US risk warning rattles vital foreign oil investors

摘要

It's been a rough few months for Petroleos de Venezuela (PDVSA). On 28 June, it made an offer to buy back $26Bn in external debt, in a move analyst LatinSource said was "perceived to be geared toward lowering PDVSA's disclosure commitments". After the offer, Standard & Poors said it was likely to cut the oil company's credit rating. Then on 30 June, PDVSA again missed a deadline to file the 20-F annual report with the US Securities and Exchange Commission - "another sign of the company's deteriorating accountability," warned LatinSource.