 |
January 8, 2008 |
|
|
|
 |
PETROLEOS DE VENEZUELA: Will Form Food Production Unit PDVAL Venezuelan state-run oil firm Petroleos de Venezuela SA will be forming food production and distribution unit called PDVAL, Reuters reports, citing Venezuelan President Hugo Chavez. Reuters relates that Venezuela has been suffering shortages of basic food products. Businesses blame the shortage on government price controls. According to Reuters, President Chavez promised to resolve shortages of groceries like: -- beef, -- eggs, and -- milk. "They are going to belong to PDVSA [Petroleos de Venezuela], soon the PDVALs will start appearing, to produce and distribute food," President Chavez told Reuters. Petroleos de Venezuela SA -- http://www.pdv.com/ -- is Venezuela's state oil company in charge of the development of the petroleum, petrochemical and coal industry, as well as planning, coordinating, supervising and controlling the operational activities of its divisions, both in Venezuela and abroad. The company has a commercial office in China. * * * As reported on March 28, 2007, Standard & Poor's Ratings Services assigned its 'BB-' senior unsecured long-term credit rating to Petroleos de Venezuela S.A.'s US$2 billion notes due 2017, US$2 billion notes due 2027, and US$1 billion notes due 2037. |
|
|
||
|
Today's Top Stories have been selected from the Troubled Company Reporter - Latin America. To receive the Full TCR-LA please CLICK HERE.
