The Swap is a Trap
PDVSA is testing the waters for a long-awaited ‘swap’ of PDVSA 2016/2017 bonds. But the exercise could prove so costly, it may just not be politically or financially sustainable.
Economy
“We’re Rich!” and Other Myths
The Petrocéntrico view that specializing on oil will make us rich is both wrong and dangerous. If we're serious about development, diversification is not a tarea we get to just skip.
El Furrial: The Spectacular Decline of a Giant Oil Field
El Furrial, once the jewel in PDVSA’s Crown, has seen production collapse from 408,000 b/d in 2008 to 198,000 in 2015: a catastrophe that is costing the country untold millions of dollars each and every day. What happened?
Dogma
You can no more argue with a Christian about the Eucharist than you can with a dogmatic Socialist about the market, and that's a large part of the problem.
Sembrando el Petróleo 80 Years On...
Sembrar el Petroleo turned 80 years old last week, and with it, our obsession with diversifying away from oil. What if we set that to one side for the next 80 years and focus on people, instead?
Pa' Que Cuadre Chronicles: A Tour of PDVSA's 2015 Financial Statements
We dive into the fine print so you don't have to.
How to Sell an IMF Package
The IMF ranks somewhere between Judas and Satan in the Venezuelan imaginary. But what if it’s the only way out? How can the next president sell IMF-sponsored reform?
Obstacles to producing all that oil
If we want to get all that oil out of the ground ASAP, we're gonna need the private sector, fiscal reform, and a wee-little change in the law.
All the Oil We'll Never Pump Out
Yes, we have the largest oil reserves. No, we won't ever use them all. No, that doesn't automatically make us rich.
The Big Forks: who's grabbing Venezuela by the Bonds?
We've got billions and billions in bond debt, but who's lined up to get the $$$ if and when we we pay?
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