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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 Chart

Commodity Futures

Energy Metals Agriculture Livestock
COMMODITY LAST CHANGE % CHANGE EXP DATE TIME 2-DAY TREND
NYMEX Crude Oil »
57.36 USD
+0.32
+0.56% Dec 17 5:37pm EST CLc1
ICE Brent Crude »
63.23 USD
+0.00
0.00% Dec 17 7:00pm EST LCOc1
NYMEX RBOB Gasoline »
1.65 USD
-0.02
-0.97% Dec 17 5:37pm EST RBc1
Dubai Crude Spot »
60.41 USD
+0.00
0.00% Dec 02 5:59pm EST DUB-1M
ICE Gas Oil »
564.00 USD
+0.00
0.00% Jan 18 LGOc1
NYMEX No2 Heating Oil »
1.90 USD
-0.01
-0.30% Dec 17 5:38pm EST HOc1
NYMEX Nat Gas »
2.62 USD
-0.06
-2.36% Dec 17 5:37pm EST NGc1
ICE NBP Nat Gas »
61.37 GBP
+0.00
0.00% Dec 17 NGLNMc1

More Commodity News

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.

Key Benchmarks

INDEX LAST CHANGE
Thomson Reuters CCI
.TRCCI
405.70 USD
7:00pm EST
+1.16
(+0.29%)
Thomson Reuters CRB
.TRJCRB
184.52 USD
4:40pm EST
+0.31
(+0.17%)
Baltic Dry Index
.BADI
1,619.00 USD
7:00pm EST
-49.00
(-2.94%)
S&P GSCI
.SPGSCITR
2,424.05 USD
1:00am EST
+5.51
(+0.23%)

Markets

S&P » 2,675.81 +0.90%
Dow » 24,651.74 +0.58%
FTSE 100 » 7,490.57 +0.57%
Nikkei 225 » 22,553.22 -0.62%
US 10YR
+2.351
+0.000
DE 10YR
+0.301
-0.003
JP 10YR
+0.044
-0.002
USD / EUR » 0.8506 +0.00%
USD / GBP » 0.7505 +0.00%
USD / JPY » 112.5700 +0.00%