VOL. XLI
No. 14
6-April-1998
UAE
Declining Oil Prices And Budget Revenues
In Venezuela, the state oil company PDVSA has revised downwards the averageprice of its basket of crudes for 1998 to $13/B. Previously the Venezuelan Government wascalculating its oil revenue for 1998 at $14/B and before that at $15/B. According to Mr.Luis Giusti, PDVSA's President, the lower oil price forecast will reduce his company'scontribution to the Venezuelan treasury by $1.7bn to $7.3bn. In 1997 PDVSA's...
Please log in to read the rest of this story.
You may purchase access to entire
MEES digital archives by subscribing.
This subscription gives you access to all the content of MEES digital archives up to 1978!