PDVSA Sales Fall on Price Slide, Asset Sale, Universal Reports
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Petroleos de Venezuela SA, the country’s state-owned oil producer, reported a 3 percent decline in annual sales on lower prices and a divestiture, newspaper El Universal reported, citing an Oil Ministry report.
Sales fell to $121 billion last year after PDVSA, as the company is known, sold a refining company in Germany, the Caracas-based newspaper said. The average price of the Venezuelan crude basket slid $3 last year to $103.2, according to data compiled by Bloomberg.