Venezuela state oil company PDVSA reports sharp drop in revenues

Venezuela state oil company PDVSA reports sharp drop in revenuesVenezuela’s state-owned oil company PDVSA revealed on Saturday that its revenues have dropped sharply, spelling bad news for a crisis-torn country heavily reliant on its exports of crude oil. PDVSA registered $ 48 billion in income for last year, compared to $ 72 billion in 2015. The country’s oil ministry has projected that Venezuelan crude would fetch $ 43.72 a barrel in 2017, but oil prices remain depressed globally.



Yahoo News – Latest News & Headlines