Venezuela Briefs: Exchange Rate; PDVSA Isn’t Bankrupt

(Energy Analytics Institute, 25.Nov.2020) — Foreign exchange rate and energy related briefs from OPEC oil producer Venezuela related to the rising Bolivar currency as well as comments from President Nicolas Maduro about the financial standing of state oil producer Petroleos de Venezuela (PDVSA).

Venezuela Bolivar Dollar Exchange Rate at Bs. 917,739.52

(Energy Analytics Institute, 25.Nov.2020) — The official dollar exchange rate on 25 November 2020 was Bs. 917,739.52 while the Euro rate was 1,088,035.27, the Central Bank of Venezuela (BCV) announced in a post on Twitter.

Maduro Says PDVSA Isn’t “Bankrupt”

(Energy Analytics Institute, 18.Nov.2020) — “Opposition candidates Henri Falcón, Bernabé Gutiérrez and Claudio Fermín attack the oil industry and say PDVSA is bankrupt,” Venezuela’s President Nicolas Maduro announced 18 November 2020 during a broadcast in national radio and television.

“State oil giant Petroleos de Venezuela isn’t bankrupt, it is besieged and blocked,” he emphasized, citing US sanctions as a primary reason.

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By Piero Stewart. © Energy Analytics Institute (EAI). All Rights Reserved.