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Venezuela bondholders inch toward showdown

Wednesday, June 28, 2017

Venezuela's largest refining complex to work at 42 percent capacity in July

Venezuela's largest refining complex plans to lower operating rates in July to 42 percent of its 955,000-barrel-per-day capacity, a level that would require state-run oil company PDVSA to keep increasing fuel purchases, according to internal documents seen by Reuters. Petroleos de Venezuela last week launched one of its largest offers on the open market in recent years to buy more than 6 million barrels of fuel and up to 9 million barrels of diluents for the second half of 2017. More…

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