What Happened: Venezuelan state-run oil company Petroleos de
Venezuela (PDVSA) may begin cutting shipments to China that are used to pay for
previous loans in favor of prioritizing shipments to the United States or
India, which pay in cash, Argus Media reported Oct. 19. Why It Matters: PDVSA will not receive any
further Chinese loans to raise production from joint ventures if the company
defaults further on Beijing's loans. Redirecting oil shipments would be a
short-term strategy to free up more cash for pressing necessities such as debt
and arbitration payments. More… 
Tuesday, October 23, 2018
China, Venezuela: Caracas To Divert Oil Shipments Away From Beijing
What Happened: Venezuelan state-run oil company Petroleos de
Venezuela (PDVSA) may begin cutting shipments to China that are used to pay for
previous loans in favor of prioritizing shipments to the United States or
India, which pay in cash, Argus Media reported Oct. 19. Why It Matters: PDVSA will not receive any
further Chinese loans to raise production from joint ventures if the company
defaults further on Beijing's loans. Redirecting oil shipments would be a
short-term strategy to free up more cash for pressing necessities such as debt
and arbitration payments. More… 
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