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Commodities

Paralysis at PDVSA: Venezuela's oil purge cripples company

Decisions at some joint ventures with foreign firms are delayed. A growing number of oil tankers sit idle because no one authorizes payments. Employees struggle to get approval for routine expenses, from taxis to training.

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COMMODITY LAST CHANGE % CHANGE EXP DATE TIME 2-DAY TREND
MCX Crude Oil »
3,667.00 INR
+16.00
+0.44% Dec 17 11:54pm IST MCGBc1

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Venezuelan creditors eyeing Citgo assets face uphill battle

Citgo Petroleum may look like a tempting target for bondholders of its parent company, Venezuelan-owned oil driller PDVSA, but the refinery operator's complex debt structure could make its assets difficult for creditors to seize, legal experts said.

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