- Venezuelan state oil company PDVSA says it prefers Harvest Natural Resources (HNR -4.8%) to leave the country but wants it to sell a project stake to a company with the financial strength to make major investments.
- HNR has been seeking to sell its stake in joint venture Petrodelta following years complaining that PDVSA is not allowing it to collect dividends, but PDVSA's president says HNR "only want(s) to get the dividend, not invest" in the project.
- The buyer of HNR's stake should be willing to pay a bonus to the government and put in ~$600M over five years to boost Petrodelta output to 100K bbl/day from 40K, PDVSA's president says.
Venezuela wants Harvest Natural gone in favor of deep-pocketed buyer
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| Symbol | Last Price | % Chg |
|---|---|---|
| HNR | - | - |
| Harvest Natural Resources, Inc. | ||