daniele macagnino
Nuovo forumer
Giunti a questo punto non c'è piu niente di sicuro in tutti i bond del Venezuela.
Titoli di Stato paesi-emergenti VENEZUELA e Petroleos de Venezuela - Cap. 2
- Creatore Discussione tommy271
- Data di Inizio
junior63
Forumer storico
junior63
Forumer storico
L'economista è un 'eletto' nella ANC è non credo voglia fare la fine di Robert Serra, se parla è perché lo hanno autorizzato a farlo.
Potrebbe anche essere solo un modo per testare le reazioni del mercato, dei clienti e fornitori PDVSA e poi prendere la decisione se procedere o meno.
junior63
Forumer storico
October 25, 2018 / 1:25 PM / Updated 10 hours ago
Conoco gets $345 million in cash and commodities from Venezuela's PDVSA
HOUSTON, Oct 25 (Reuters) - U.S. oil producer ConocoPhillips on Thursday said it received $345 million in cash and commodities last quarter from Venezuelan state oil firm PDVSA under an arbitration settlement.
The proceeds were part of a first installment under a deal to satisfy a $2 billion arbitration award Conoco won earlier this year over broken oil contracts in the South American country more than a decade ago. (Reporting by Gary McWilliams)
Conoco gets $345 million in cash and commodities from Venezuela's PDVSA
HOUSTON, Oct 25 (Reuters) - U.S. oil producer ConocoPhillips on Thursday said it received $345 million in cash and commodities last quarter from Venezuelan state oil firm PDVSA under an arbitration settlement.
The proceeds were part of a first installment under a deal to satisfy a $2 billion arbitration award Conoco won earlier this year over broken oil contracts in the South American country more than a decade ago. (Reporting by Gary McWilliams)
carib
rerum cognoscere causas
Deutsche Bank
Venezuela: PDVSA 2? Market likely overreacted. On Wednesday morning, Bloomberg news reported that "Venezuela’s constituent assembly is weighing a proposal to replace PDVSA with a new national energy company (CVE) that would inherit everything except PDVSA’s debt", citing Argus Media reports (which in turn cited David Paravisini, who chairs the assembly’s petroleum, gas, energy and water subcommittee). The report further suggested that "Under the proposal, CVE would absorb all of PDVSA’s administrative, operational and physical assets, including Citgo, but not its liabilities that include debt owed to bondholders, joint venture partners, suppliers and other creditors." This news rekindled a multi-year old idea (and concerns of some market participants) that Venezuela might go this route which bodes poorly for the recovery value for PDVSA bonds. PDVSA bonds fell sharply, falling about 3pts on average, on the back of the report. Sovereign bonds were also affected, falling by 1 - 1.5pts on the day.
For the record, we have always been skeptical about this idea. We believe this is even less likely to materialize in the near term. First, if it happened, it would have conflicted with the established signal that PDVSA will make PDVSA 20s's amortization payment due on the 27th in order to avoid a foreclosure on CITGO (even if - in our view - it would likely lose CITGO anyway after the payment). Second, this replacement could have negative impacts on joint ventures, the source of more than 50% of the oil production in Venezuela currently (some estimate puts it higher than 60%). Finally, we struggle to find any tangible benefits for Venezuela to do this at the moment - not like PDVSA would avoid paying any debt it otherwise has to make. We strongly believe this was likely something that got taken out of context, and believe bond prices should - at least partially - retrace the loss incurred on Wednesday.
Venezuela: PDVSA 2? Market likely overreacted. On Wednesday morning, Bloomberg news reported that "Venezuela’s constituent assembly is weighing a proposal to replace PDVSA with a new national energy company (CVE) that would inherit everything except PDVSA’s debt", citing Argus Media reports (which in turn cited David Paravisini, who chairs the assembly’s petroleum, gas, energy and water subcommittee). The report further suggested that "Under the proposal, CVE would absorb all of PDVSA’s administrative, operational and physical assets, including Citgo, but not its liabilities that include debt owed to bondholders, joint venture partners, suppliers and other creditors." This news rekindled a multi-year old idea (and concerns of some market participants) that Venezuela might go this route which bodes poorly for the recovery value for PDVSA bonds. PDVSA bonds fell sharply, falling about 3pts on average, on the back of the report. Sovereign bonds were also affected, falling by 1 - 1.5pts on the day.
For the record, we have always been skeptical about this idea. We believe this is even less likely to materialize in the near term. First, if it happened, it would have conflicted with the established signal that PDVSA will make PDVSA 20s's amortization payment due on the 27th in order to avoid a foreclosure on CITGO (even if - in our view - it would likely lose CITGO anyway after the payment). Second, this replacement could have negative impacts on joint ventures, the source of more than 50% of the oil production in Venezuela currently (some estimate puts it higher than 60%). Finally, we struggle to find any tangible benefits for Venezuela to do this at the moment - not like PDVSA would avoid paying any debt it otherwise has to make. We strongly believe this was likely something that got taken out of context, and believe bond prices should - at least partially - retrace the loss incurred on Wednesday.
Bric Berton
Nuovo forumer
Primo messaggio sul forum, un saluto a tutti.
Meet The Obscure Russian Bank Helping Venezuela Defy U.S. Sanctions
La ritenete una "notizia"?
Meet The Obscure Russian Bank Helping Venezuela Defy U.S. Sanctions
La ritenete una "notizia"?
Kain
Forumer attivo
Un commento che lascia il tempo che trova, senza gli usa non si ristruttura nessun debito punto
Kain
Forumer attivo
Inutile il riferimento al passato, Maduro è illegittimo dal 2018, e anc pure, se si vuole trattare sul debito serviranno atti di forza contro maduro