Thursday, February 9, 2017

Venezuela -- Tick, Tick, Tick -- February 9, 2017

Venezuela falls behind on oil-for-loan deals with China -- Reuters, data points:
not just a few days, but months behind in crude and fuel under oil-for-load deals with China and Russia
  • China and Russia have provided Venezuela at least $55 billion in credit
  • total worth of late cargoes: at least $750 million
  • wow -- $55 billion in credit, and not only are cargoes a pittance of that (less than a billion dollars), that cargo is not even getting to China, Russia
  • nearly 10 million bbls in arrears; as much as 10 months late
Spreadsheet here

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