Mexican Firm In Oil Swap With Venezuela Declares Bankruptcy

Mexican Firm In Oil Swap With Venezuela Declares Bankruptcy

OilPrice.com

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A Mexican firm that was instrumental in an oil-for-water swap scheme with the Venezuelan government has declared bankruptcy, saying Venezuela’s President Nicolas Maduro had terminated their deal. Reuters reports Libre Abordo declared bankruptcy yesterday, citing a press release that said, “In recent months (we) have faced excessive challenges, from the oil price fall... to pressure from the U.S. government aimed to stop our operations.” The contract between the Mexican firm and Caracas, which involved the swap of several…

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