Venezuela's oil production drops 130,000 barrels in a month

The daily production of the state-owned company Petróleos de Venezuela (PDVSA) fell by 130,000 barrels last October compared to the previous month, according to figures released by the company itself today by the Organization of Petroleum Exporting Countries (OPEC).

Caracas, Nov 13 (EFE) .- The daily production of the state oil company Petróleos de Venezuela (PDVSA) fell by 130,000 barrels last October compared to the previous month, according to figures from the own company released today by the Organization of Petroleum Exporting Countries (OPEC).

According to these figures, PDVSA produced in October 1,995 barrels per day, for the 2,085 had produced in September. until October 2017 the difference in daily oil production in Venezuela is 699,000 barrels.

Representatives of the Venezuelan Government and PDVSA are scheduled to meet today with the holders of their bonds with the intention of renegotiating all the state's external debt.

Despite some delays that caused fear of a suspension of payments for the company, PDVSA fulfilled in the last weeks with the two large maturities (of about 2,000 million dollars) that had to face in this final stretch of the year.

President Nicolás Maduro announced at the beginning November that the second of these PDVSA payments would be the last that the Venezuelan State would carry out under the current conditions.

Maduro ordered at that time the creation of a commission to renegotiate the debt, with the objective of refinancing or restructuring it to obtain better payment terms.

Venezuela - which has already obtained from Russia the restructuring of 3,000 million debt - it needs the agreement of its creditors.

In addition, the Venezuelan legislation establishes that any debt operation involving the issuance of debt or exchange of the same with private entities, multilateral organizations or with any foreign government must go through the revision and approval of the Parliament.

Before this, the Camara, a power of opposition majority that is not obeyed by the Government of Maduro, already warned that it will not recognize the restructuring of the debt if it is not submitted before to the debate and to its approval.

EUR/USD

EURUSD=X

1.1747 0,00 -0,24%
USD/CHF

CHF=X

0.9581 0,00 -0,09%
GBP/USD

GBPUSD=X

1.3067 -0,02 -1,54%
USD/JPY

JPY=X

112.5670 +0,09 +0,08%
USD/CNH

CNH=X

6.8451 +0,01 +0,15%
USD/CAD

CAD=X

1.2912 +0,00 +0,06%
IBEX 35

^IBEX

9590.40 +6,70 +0,07%
IBEX MEDIUM..

INDC.MC

15377.30 -38,40 -0,25%
IBEX SMALL ..

INDS.MC

7490.80 +5,90 +0,08%
IBEX TOP DI..

INDD.MC

3047.90 +1,80 +0,06%
FTSE LATIBE..

INDB.MC

1249.20 +9,20 +0,74%
FTSE LATIBE..

INDL.MC

8444.10 +226,10 +2,75%
Abertis Inf..

ABE.MC

18.36 +0,00 +0,00%
Actividades..

ACS.MC

37.83 +1,03 +2,80%
Acerinox, S..

ACX.MC

12.24 -0,03 -0,24%
AENA, S.A.

AENA.MC

150.45 +4,75 +3,26%
Amadeus IT ..

AMS.MC

78.26 +0,46 +0,59%
Acciona, S...

ANA.MC

75.86 -0,12 -0,16%
Financial S..

XLF

28.74 -0,11 -0,39%
VanEck Vect..

GDX

18.78 -0,15 -0,79%
SPDR S&P 50..

SPY

291.99 -0,22 -0,07%
Vanguard FT..

VWO

41.80 +0,17 +0,41%
Direxion Da..

TZA

8.24 +0,12 +1,48%
Utilities S..

XLU

53.06 +0,22 +0,43%