Financial debt of Venezuela's Pdvsa up 9.67%
Venezuelan state-run oil holding Petróleos de Venezuela (Pdvsa) informed on Sunday that its consolidated financial debt rose 9.67% by the end of 2014, from the previous year, totaling USD 39.87 billion, including accounts payable to suppliers and other obligations.
According to the consolidated financial statements of Pdvsa, audited as of December 31, 2014, the oil giant is to disburse USD 5.37 billion in maturities and interests in 2016 and USD 7.32 billion in 2017
For 2018, the oil company will pay maturities amounting to USD 1.10 billion; USD 1.29 billion in 2019, and USD 3.08 billion in 2020.
In addition, debt obligations for "the remaining years" total USD 21.69 billion.
However, despite this increase in financial debt, total liability hit USD 137 billion, 6.5% less than the previous year.
Moreover, the financial statements of Pdvsa showed that average costs of production per barrel of "oil equivalent" in 2014 climbed to USD 18.05, from USD 11.40 in 2013.
Financial debt of Venezuela's Pdvsa up 9.67% - Daily News