Venezuelan crunch time
Venezuela faces steep bond payments before the end of the year. It is looking to Russia to help keep it from default
27 October will be a tense day for Venezuela's cash-strapped state oil company PdV and its bondholders. The company owes $0.84bn in principal payments on its PDVSA 2020 bond on the day. Unlike some other PdV debt, the 2020 bond does not have a provision for a grace period, so if PdV can't come up with the cash on the day, or there is a hiccup making the transfer to its payment agent Delaware Trust Company, PdV would be in default and one of the world's top oil producers would be plunged into a highly complex legal battle with its bondholders that would likely seize up its international business. The 27 October transaction is one of a string of payments PdV will have to make to bondholders to
Also in this section
28 April 2026
The key energy player faces balancing regional routes, political complexities, and creating a clear strategic vision for energy security
24 April 2026
The European Commission’s response to the Middle East crisis is to double down on its transition strategy, with plans for a new target on electrification
24 April 2026
A major new discovery by Eni and BP that can likely be fast-tracked to production is welcome news for Egypt as it scrambles to plug a widening supply gap and deal with rising import risks
24 April 2026
Countries in the region are turning to the cleaner-burning fuel for power generation, driving demand for imports
