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Venezuela's PDVSA Says Debt Fell by $2 Billion Last Year

  • Reduction was `major achievement,' President Del Pino says
  • Total debt was about $43.8 billion at the end of 2015
Updated on

Petroleos de Venezuela SA, the country’s state oil company, said it reduced debt by about $2 billion last year even as it grappled with the collapse in oil prices.

The debt reduction was a “major achievement considering the unfavorable situation that our country went through last year with the fall in oil prices,” Eulogio Del Pino, president of the producer, said in an e-mailed company statement Thursday.