Fourth Quarter 2017 Report 2018-1 Maritime Newsletter
I. NEWS This section highlights excerpts of relevant press releases and brief comments on our views regarding such. “Reuters: PDVSA is negotiating to obtain funding from four oil companies” PDVSA is reaching out to Rosneft (Russia), Eni (Italy), Repsol (Spain) and Statoil (Norway) to obtain funding for oil and gas projects. The Vice-President of PDVSA Gas argued they are very open to continue to work together. http://www.el-nacional.com/noticias/petroleo/reuterspdvsa-negocia-obtener-creditos-cuatro-companiaspetroleras_212689 “The President of Venezuela announces the creation of the Petro, a cryptocurrency supported by oil, gas, gold and diamonds” Venezuela is trying to create a cryptocurrency similar to Bitcoin, which will be supported in the mineral resources of Venezuela. Venezuela is facing a deep depreciation of its currency, making 1 USD equivalent to its highest bank note Bs. 100.000. Last month, the Bolivar…