Caracas weighs PDVSA successor, free of debt

Venezuela's constituent assembly is proposing to replace state-owned oil company PdV with a new national energy company that would inherit everything but PdV's mounting debts. The new company, tentatively called the Venezuelan Energy Corporation (CVE), would be tasked with developing export-oriented energy projects on its own and through joint ventures with foreign partners, says economist David Paravisini, who chairs the national constituent assembly's (ANC) petroleum, gas, energy and water subcommittee. More…