Source: Reuters 11/14/2013, Location: South America
PDVSA President Rafael Ramirez said the Venezuelan state oil company's new $4.5 billion bond offer is starting.
In its second largest issue, PDVSA is selling $1.5 billion to the central bank while offering the remaining $3 billion to service providers to pay down billions of dollars in debts.
In comments to reporters, Ramirez also said that Venezuela hoped to reach production of 3.3 million barrels per day (bpd) by the end of 2014, from around 3 million now.
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