Venezuela State Oil Co. to End SEC Filings
Posted on: Thursday, 13 April 2006, 00:00 CDT
CARACAS, Venezuela - Venezuela's state oil company said it has paid off $83 million in debt registered with the U.S. Securities and Exchange Commission and will stop filing public financial reports with the agency.
Petroleos de Venezuela SA, or PDVSA, said in a statement late Wednesday that as a result of the debt buyback it "no longer has any financial instrument registered" with the SEC and that its obligation to report to the agency has "expired."
The company said it will file its last report for 2004 to the SEC in May.
Venezuela is the world's fifth-largest oil exporter and a major supplier of fuel to the United States.
The SEC filings disclose to investors key details about how the company operates, such as income from exports, refining, production and reserves.
Source: Associated Press/AP Online
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