September 2016, Vol. 243, No. 9

In The News

World News

PDVSA’s Future Clouded by Venezuelan Crisis National oil company PDVSA may badly need money and could be in such a precarious condition that it causes the demise of the wider Venezuelan oil sector, according to an article in Oilprice.com. Oilfield union officials in the Lake Maracaibo region leaked news to Platts that all is not well in the drilling sector there, with sources saying major international operator Schlumberger halted the majority of its operations. Union leaders said Schlumberger shut down four of six rigs it was operating for offshore oil production in Lake Maracaibo because of a lack of payment for drilling services from PDVSA. Oilprice.com suggests the shutdown could be b

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