Economy
Amidst financial problems, the state-run oil company Petróleos de Venezuela is asking foreign companies to repay their debts under energy supply agreements.

Recently, the Venezuelan oil holding requested Argentina and Paraguay to meet their obligations.

As concerns Argentina, the delay in payments for fuel oil and gasoil bills in 2007 and 2008, forced the government of Cristina Kirchner to renegotiate a USD 813 million debt. The two parties are negotiating the disbursements to be made by Buenos Aires.

Concerning Paraguay, the officials of Pdvsa decided not to negotiate and requested cash payments. According to ABC newspaper, the Paraguayan oil company Petropar asked for refinancing of the USD 302 million debt; however, Pdvsa officials rejected the proposal and requested the Paraguayan company to make a down payment of USD 180 million for due obligations.