Venezuela's endgame: PDVSA approaching messy default

Oliver West

November 09, 2017 10:45 pm

PDVSA, Venezuela, refinery, Latam — An oil tank in the Isla refinery - once the largest in the world and now considered the most environmentally harmful - on the island of Curacao in Willemstad, Netherlands, 09 August 2016. The site is outdated and many children in the region suffer from asthma from the emissions. Located on the Caribbean island of Curacao is the world's once largest refinery - completely ramshackle, operated by the Venezuelan oil company PDVSA. All the regulatory limits in the former Dutch colony are being severely exceeded, which is harming the important tourism industry. Photo:¬†ANDREAS¬†NOETHEN/dpa | Andreas N√∂then/DPA/PA Images

Investors and bond market analysts said that PDVSA, the Venezuelan state-owned oil company, was on the verge of a messy default after making its latest principal payment nearly a week late and in various stages.

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Oliver West

US Bureau Chief - Latin America Editor