Petroleos de Venezuela Profits Tumble, Default Looms

摘要

Unaudited figures released by Venezuela's oil ministry show that state oil producer Petroleos de Venezuela (PDV) earned consolidated net income of $8.453 billion last year, down 32% from the $12.465 billion it earned in 2014. The ministry made the disclosure in a report submitted to Venezuela's legislature, the National Assembly, this week.