Venezuelan crunch time
Venezuela faces steep bond payments before the end of the year. It is looking to Russia to help keep it from default
27 October will be a tense day for Venezuela's cash-strapped state oil company PdV and its bondholders. The company owes $0.84bn in principal payments on its PDVSA 2020 bond on the day. Unlike some other PdV debt, the 2020 bond does not have a provision for a grace period, so if PdV can't come up with the cash on the day, or there is a hiccup making the transfer to its payment agent Delaware Trust Company, PdV would be in default and one of the world's top oil producers would be plunged into a highly complex legal battle with its bondholders that would likely seize up its international business. The 27 October transaction is one of a string of payments PdV will have to make to bondholders to
Also in this section
24 December 2025
As activity in the US Gulf has stagnated at a lower level, the government is taking steps to encourage fresh exploration and bolster field development work
23 December 2025
The new government has brought stability and security to the country, with the door now open to international investment
23 December 2025
A third wave of LNG supply is coming, and with it a likely oversupply of the fuel by 2028
22 December 2025
Weakening climate resolve in the developed world and rapidly growing demand in developing countries means peak oil is still a long way away
