Venezuelan Oil Minister Rafael Ramirez' announcement that the state will borrow more money to help pay off national oil company debts follows the disclosure by President Hugo Chavez of a letter urging Moscow to cooperate in selling oil at $100 a barrel.
State petroleum company Petroleos de Venezuela has run up billions of dollars in debts to contractors since global oil prices began tumbling nearly a year ago. Although denying that PDVSA had cash-flow problems.....Complete Story
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