Former PDVsA head Giusti exits Colombian company

摘要

Bogota-Former PDVSA chief Luis Giusti has resigned from his start-up oil company in Colombia amid a restructuring of the firm's debt-laden finances and allegations he misrepresented production figures last year. In a statement late January 19, Alange Energy said a shortage in working capital had prompted it to raise $50 million in a "bought deal prospectus offering of units" to pay off $22 million in loans coming due and to pay for ongoing exploration and development in Colombia.