Petroleos de Venezuela Considers Options to Slash Costs

摘要

Petroleos de Venezuela (PDV) plans to combine almost two dozen joint ventures with foreign partners into as many as six large companies, in a move aimed at reducing costs and strengthening the state-owned firm's financial position.The restructuring aims to cut PDV's operating budget by between 30% and 40% this year, as Venezuela responds to the steep drop in oil prices since last summer, PDV director Eulogio del Pino told Dow Jones Newswires.