Market Report, "Venezuela Oil & Gas Report Q2 2013", Published
BMI View: With a post-Hugo Chavez future seeming increasingly imminent, it is tempting for markets and industry players alike to imagine a brighter future for Venezuela's energy sector. Indeed, the country's unparalleled below-ground potential has disappointed in recent years due to economic mismanagement, underinvestment and the unsustainable social policies which have drained state-owned PdVSA of critical resources. As such, market optimism has prevailed in recent weeks, signalling that investors view a Venezuela without President Chavez positively. However, it would be...
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