PDVSA: cost of capital

With something like $80 billion in capital projects planned for the six years, this has to hurt.

Orinoco joint venture with Chevron
Orinoco joint venture with Repsol
Orinoco joint venture with Petrovietnam
Orinoco joint venture with Russian National Oil Consortium
Orinoco joint venture with China National Oil Corp.
Orinoco projects for shared use (roads, cities, water treatment, etc)

Offshore natural gas development with Chevron
Liquefied natural gas train with Chevron
Offshore natural gas development without partners
Liquefied natural gas train solo (Mariscal Sucre)
Offshore natural gas development with Gazprom
Offshore natural gas development with Repsol-Eni

New refinery on Orinoco River
New joint venture refineries in China
Joint venture refinery in Brazil
Shipping line with China
New ships from Brazil
New ships from Spain
New shipyard on Paria Peninsula

Yes, I’m sure I’m missing a few, this is just from memory.