News

Venezuela's PDVSA to keep producing, exporting oil previously handled by Chevron, document says

The administration of U.S. President Donald Trump this month gave Chevron 30 days through early April to wind down all oil operations and exports from Venezuela that are currently going to the United States under a license granted in 2022. Chevron has a presence in the U.S.-sanctioned South American country through joint ventures where PDVSA is the largest shareholder, with the Petropiar project at the vast Orinoco Belt being the most important partnership.

S&P Cuts Vista-Backed Solera’s Credit Rating Further Into Junk

(Bloomberg) -- S&P Global Ratings cut its credit grade on Solera further into junk, as the Vista Equity Partners-backed software company struggles with a high debt load and negative cash flow.Most Read from BloombergICE Eyes Massive California Tent Facility Amid Space ConstraintsHow Britain’s Most Bike-Friendly New Town Got BuiltThe Dark Prophet of Car-Clogged CitiesWashington, DC, Region Braces for ‘Devastating’ Cuts from CongressNYC Plans for Flood Protection Without Federal FundsS&P downgrade