Radar > 224372

Government of Venezuela asks that Harvest leaves PDVSA

Gobierno de Venezuela pide que Harvest abandone PDVSA

Intel ID : 224372
Synopsis

Government of Venezuela wants that US-based Harvest abandons its business in the country. Harvest would have to sell its stake in PDVSA's project, preferably tot a company with enough capital to carry out large investments (See related Radar) .

Harvest Natural tried twice to sell its assets to Petrodelta, which was blocked by PDVSA due to inability to receive dividends. Therefore, PDVSA is looking for a partner who not only wants to receive dividends, but also wants to invest.

Harvest tried to sell its 32% of the capital to the Indonesian oil company Pertamina and Argentina-based Pluspetrol. Finally, this deal was not carried out due to lack of funds. The Houston-based company said, in March, it faces a significant lack of liquidity due to unpaid dividends by PDVSA and other contract breaches.
(content in spanish)

El gobierno de Venezuela quiere que la empresa estadounidense Harvest abanone los negocios en su país, pero para ello tiene que vender su participación en el proyecto de PDVSA, preferiblemente a una empresa con capital suficiente como para llevar a cabo grandes inversiones (Ver Radar relacionado).

Harvest Natural ha intentado vender en dos ocasiones sus activos a Petrodelta, impidiéndole PDVSA por la incapacidad de percibir dividendos. Por ello, PDVSA está buscando un socio que no sólo quiera percibir dividendos, sino invertir.

Harvest había intentado vender su participación de 32% a la petrolera indonesia Pertamina y a la argentina Pluspetrol, pero no se llevó a cabo por falta de fondos. La compañía, que tiene su sede en Houston, dijo en marzo que enfrenta una importante falta de liquidez ante el impago de dividendos por parte de PDVSA y otros incumplimientos de contratos.

Bidder

PDVSA
Venezuela
Venezuela

Seller


Intel ID 224372
Value EUR 559,54m (Approx.)
Native Currency US Dollar (USD)
Exchange Rate:
Date
Country
Region
Continent
Geography
Subsector (Old TTR Sectors)
Type
Intel Grade
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Bidder

Name
verified
Subsector (Old TTR Sectors)
Energy and Renewable Energies / Oil and Gas (Primary)
Primary Sector (TTRSC)
20.02.02 Multiline Oil & Gas
20 Energy & Utilities / 20.02 Oil, Gas & Consumable Fuels

Country
Website
Description

Bidder

Name
verified
Subsector (Old TTR Sectors)
Energy and Renewable Energies / Oil and Gas (Primary)
Country
Website
Description

Seller

Name
verified
Subsector (Old TTR Sectors)
Energy and Renewable Energies / Oil and Gas (Primary)
Country
Website
Description

Related Entity

Name
Subsector (Old TTR Sectors)
Services and Distribution / Other Services (Primary)
Primary Sector (TTRSC)
50.01.01 Executive & Legislative Offices/Bodies
50 Public Services & NGOs / 50.01 Government & Public Administration

Country
Website
Description

Radar

Date Title Type Intel Grade Country Subsector  

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verified Verified: Confirmed as a party to an active or possible transaction.

potential Potential: Unconfirmed as a party to an active or possible transaction.

retained Retained: Confirmed as “Retained” with a general or specific mandate.

prospect Prospect: Advisory “Prospect” in discussions with or pitching services to possible client.

Transactional data is continuously updated by the research team and therefore is subject to change.