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35

UK Bank Denies PDVSA A Loan

The Royal Bank of Scotland is not ready to provide Venezuelan state-run producer PDVSA with a multi-billion dollar credit line, referring to the global credit crunch

Such information was published in two small Venezuelan anti-government newspapers, of course without giving any source of it.

Later on the news appeared on business channel CNBC.

Both PDSVA and RBS didn't comment on this.

Venezuelan oil industry analysts told Reuters they knew of no negotiations between Venezuela and RBS. That contrasted with well-publicised multi-billion dollar credit deals that PDVSA has with creditors in Asia.

Author: Ksenia Kochneva