Venezuela oil company cuts costs as prices fall/ Pdvsa baja 64,7% presupuesto de costos y gastos por crisis

Venezuela announced plans Friday to slash salaries and spending at its state oil company in a bid to save cash for refinery upgrades and other projects as oil income falls. Oil Minister Rafael Ramirez said Petroleos de Venezuela SA will cut "excess" costs by $11 billion, about a tenth of last year's estimated spending, freezing wages for its 75,000 employees and reducing salaries for all top officials, including himself, by 20 percent (full information)/ La estatal Petróleos de Venezuela (Pdvsa) recortó en un 64,7% su presupuesto de costos y gastos en medio de la fuerte baja de sus ingresos por la caída de los precios internacionales del crudo, anunció ayer en una videoconferencia el ministro de Energía y Petróleo y presidente del holding, Rafael Ramírez. ( información completa)