Americas Quarterly today carries a followup that to my 29 August piece on Post-Chavez changes at PDVSA.
NOTE: During the past couple weeks, while in Maracaibo and Caracas, I was repeatedly told of a new offshore payment mechanism that PDVSA has begun offering to its Joint Venture foreign partners. Venezuelan private sector leaders took credit for the general idea. Here’s my AQ article:
Recent discussions in Caracas and Maracaibo have made clear that as soon as the late Venezuelan President Hugo Chávez died, the strategy of Petróleos de Venezuela S.A. (PDVSA) became “pragmatism” in the face of “necessity.”
My August 29 AQ Web Exclusive described PDVSA’s scramble for production by enlisting the private sector and by meeting the tough new constraints on loans imposed by Beijing and major foreign oil companies. Continue reading at Americas Quarterly –> HERE.