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Venezuela Watch Thread


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#181
BasilBerylium

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Something new happened during all this time?



#182
caltrek

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^^^If missing a debt payment can be considered new:

 

Venezuela just defaulted, moving deeper into crisis

 

http://money.cnn.com...t-sp/index.html

 

 

(CNN) Venezuela, a nation spiraling into a humanitarian crisis, has missed a debt payment. It could soon face grim consequences.

 

The South American country defaulted on its debt, according to a statement issued Monday night by S&P Global Ratings. The agency said the 30-day grace period had expired for a payment that was due in October.

 

A debt default risks setting off a dangerous series of events that could exacerbate Venezuela's food and medical shortages.

 

If enough holders of a particular bond demand full and immediate repayment, it can prompt investors across all Venezuelan bonds to demand the same thing. Since Venezuela doesn't have the money to pay all its bondholders right now, investors would then be entitled to seize the country's assets -- primarily barrels of oil -- outside its borders.

 

Venezuela has no other meaningful income other than the oil it sells abroad. The government, meanwhile, has failed for years to ship in enough food and medicine for its citizens. As a result, Venezuelans are waiting hours in line to buy food and dying in hospitals that lack basic resources.


The principles of justice define an appropriate path between dogmatism and intolerance on the one side, and a reductionism which regards religion and morality as mere preferences on the other.   - John Rawls


#183
caltrek

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UPDATE 1-Venezuela's PDVSA in talks to supply gas to neighbors

 

http://www.businessi...ighbors-2017-11

 

Introduction:

 

SANTA CRUZ, Bolivia, Nov 22 (Reuters) - Venezuelan state-run oil company PDVSA is in contract talks to export natural gas to neighbors Colombia, Trinidad and Tobago, and Aruba, a company official said on Wednesday.

 

Gas sales could provide a welcome boost to energy revenues for a country suffering acute cash problems and in talks to restructure its debt. Venezuela, which is almost entirely dependent on crude exports, has seen income decline since oil prices crashed in 2014.

 

Colombia used to export gas to Venezuela through a pipeline. That flow would be reversed if an agreement with Colombia is reached on price, PDVSA's vice president of gas, Cesar Triana, said during a gas conference in Santa Cruz, Bolivia.

 

Price talks between PDVSA and Colombian state-run energy firm Ecopetrol have taken a long time, Triana confirmed. The Venezuelan firm modified the pipeline in preparation to pump gas to Colombia.

 

"The negotiations have been hard due to current gas prices, which are very low," Triana said.


The principles of justice define an appropriate path between dogmatism and intolerance on the one side, and a reductionism which regards religion and morality as mere preferences on the other.   - John Rawls


#184
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Koch Brothers Sue Venezuela to Collect $409 Million

 

https://www.courthou...ct-409-million/

 

Introduction:

 

(Courthouse News) — Charles and David Koch are suing Venezuela to collect $409 million awarded by an international arbitration panel.

 

In a federal complaint filed Nov. 28 in Washington D.C., two companies owned by the billionaire brothers, Koch Minerals Sarl and Koch Nitrogen International Sarl, say they have not been paid an award granted them in October by the International Centre for Settlement of Investment Disputes, after then-President Hugo Chavez expropriated FertiNitro in 2010.

 

At the time, Koch Minerals Sarl indirectly owned 25 percent of the equity of FertiNitro, which operated two fertilizer plants located in Jose, Venezuela.

 

Koch Nitrogen International Sarl had a long-term agreement with FertiNitro to purchase, at a discount, both ammonia and urea.

 

The Tribunal found that Venezuela unlawfully expropriated the two companies interests in FertiNitro. It awarded Koch Minerals Sarl $140,250,000 in principal compensation, and Koch Nitrogen International Sarl $184,800,000.


The principles of justice define an appropriate path between dogmatism and intolerance on the one side, and a reductionism which regards religion and morality as mere preferences on the other.   - John Rawls





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