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Pacific Rubiales Is Cheap to Venezuela Group With 10% Stake

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A group of Venezuelan investors are prepared to increase their stake in Pacific Rubiales Energy Corp., Latin America’s biggest non-state-owned oil producer, after building up a 10 percent holding.

“The company has been unjustly punished by the fall in oil prices,” Orlando Alvarado, a Caracas-based financial consultant and one of at least three investors in the group, said Thursday in a telephone interview. “We have the capital to raise our position significantly. The company has long-term value.”