SOSA: GOVERNMENT TAX BURDEN HAS PDVSA FACING CASH CRISIS

Petroleos de Venezuela SA faces a potential cash crisis. The head of Venezuela's state oil company warned last week that unless the Venezuelan government eases its tax burden, Pdvsa could become decapitalized and unable to carry out its ambitious investment program. Pdvsa Pres. Andres Sosa Pietri said in a speech in Caracas the company, which now pays taxes of more than 80% on its operating profits, requires more equitable tax treatment to continue investment plans, generate profits, and

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