Debt of Venezuelan state oil company Pdvsa up 6.38%
Official figures show the debt hit USD 46.1 billion. The amount does not include the debt with service suppliers
 |
Pdvsa's debt service in 2015 accounts for USD 6 billion (File photo)
Related Content
EL UNIVERSAL
Tuesday January 27, 2015 10:03 AM
State oil holding Petróleos de Venezuela (Pdvsa) has informed its consolidated debt climbed 6.34% by the end of 2014 versus 2013, totaling USD 46.1 billion. The amount does not include debts with service suppliers.
Pdvsa's debt service in 2015 accounts for USD 6 billion. Similarly, other USD 5.5 billion will have to be paid in 2016 and USD 7 billion in 2017, according to analysts. The situation pressurizes the companies' accounts in a context where the barrel of oil faces a sustained decline, Reuters reported.
Pdvsa's financial report shows that the financial consolidated debt has been presented taking into account only indebtedness with financial institutions, bonds, and financial leasing. Therefore, other liabilities and obligations have been put aside, namely accounts payable with suppliers, income taxes, employment benefits and other post-employment benefits, accruals, and other liabilities, interests, and provisions, as well as monies associated with the activities of the Simón Bolívar Fund for Reconstruction and some payment documents with public bodies, government institutions, the Central Bank of Venezuela, and other non-financial organizations and institutions.
Based on the official figures provided, parent company Pdvsa owes USD 41.4 billion, including USD 33.2 billion in bonds, USD 6.4 billion in loans, USD 1.2 billion in credit facilities, among other items.
In the case of Pdvsa's US-based subsidiary Citgo, the debt amounts to USD 1.9 billion, and in the case of Pdvsa Petróleo and its subsidiaries, the figure totals USD 1.47 billion.
Translated by Jhean Cabrera
Pdvsa's debt service in 2015 accounts for USD 6 billion. Similarly, other USD 5.5 billion will have to be paid in 2016 and USD 7 billion in 2017, according to analysts. The situation pressurizes the companies' accounts in a context where the barrel of oil faces a sustained decline, Reuters reported.
Pdvsa's financial report shows that the financial consolidated debt has been presented taking into account only indebtedness with financial institutions, bonds, and financial leasing. Therefore, other liabilities and obligations have been put aside, namely accounts payable with suppliers, income taxes, employment benefits and other post-employment benefits, accruals, and other liabilities, interests, and provisions, as well as monies associated with the activities of the Simón Bolívar Fund for Reconstruction and some payment documents with public bodies, government institutions, the Central Bank of Venezuela, and other non-financial organizations and institutions.
Based on the official figures provided, parent company Pdvsa owes USD 41.4 billion, including USD 33.2 billion in bonds, USD 6.4 billion in loans, USD 1.2 billion in credit facilities, among other items.
In the case of Pdvsa's US-based subsidiary Citgo, the debt amounts to USD 1.9 billion, and in the case of Pdvsa Petróleo and its subsidiaries, the figure totals USD 1.47 billion.
Translated by Jhean Cabrera
Keine Kommentare:
Kommentar veröffentlichen