Foreign oil firms fret over Venezuela exposure

摘要

Foreign oil companies holding minority stakes in upstream joint ventures with state-owned oil firm PdV in Venezuela are increasingly concerned about their financial exposure as the economy tumbles and political violence escalates. The energy ministry acknowledged that PdV owes about a combined $6bn in overdue profits to foreign companies holding minority stakes in almost 40 existing and new upstream joint ventures, including six new Orinoco oil belt joint ventures.