DECRETO 4715 DE 2010 PDF

Decreto de 18 de abril de por el que se crea la Caja Nacional del Seguro de Vejez e Invalidez, preparando un .. National Policy on HIV and AIDS in the World of Work in Sri Lanka, Adoption: | LKAL According to the Decreto con Rango, Valor y Fuerza de Ley de Instituciones del On October 15, , PDVSA entered into a purchase agreement with. 4, 2, 3, 4, 3, .. Real Decreto.

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Investing in emerging-market 201 generally pose a greater degree of risk than investing in securities from more mature market economies as emerging market economies are more volatile. We are currently a party to certain arbitrations and numerous legal proceedings relating to civil, administrative, environmental, labor and tax claims filed against us.

Any such increase in exploration and 47115 costs may affect our results of operations and financial condition. The sale of foreign currency originating from oil exports by PDVSA, its affiliates and joint ventures are made at the exchange rate of Bs.

Copies of documents referred to herein will be made available to prospective investors upon request to us.

We may in the future purchase Existing Notes at different prices. The consideration to be received in the Exchange Offers does not reflect any valuation of the Existing Notes or the New Notes and is subject to market volatility, and none of PDVSA, the trustee or the Ddecreto Agent and the Exchange Agent makes any recommendation that any holder participate in the Exchange Offers.

We plan to implement an infrastructure program focused on multiple projects with the aim of securing the development of crude oil and gas reserves, particularly in the Orinoco Oil Belt. Furthermore, we cannot assure you that our business will generate sufficient cash flow from operations or that future borrowings will be available to decgeto in the market in an amount sufficient to enable us to pay principal and interest on our indebtedness or to fund our other liquidity needs.

Accordingly, any person making or intending to make any offer in that Relevant Member State of securities which are the subject of the offering contemplated in this offering circular may only do so in circumstances in which no obligation arises for the Issuer to publish a prospectus pursuant to Article 3 of the Prospectus Directive or supplement a prospectus pursuant to Article 16 of the Prospectus Directive, in each case, in relation to such offer.


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Any such decrfto could expose us to increased costs, litigation and contingent liabilities, which would have a material adverse effect on our financial condition and results of operations. Production tax, extraction tax and other taxes. Remeasurements of defined benefits, net of tax. Exploration activities are decrreto to risks arising from the inherent difficulty of predicting the presence, yield and quality of hydrocarbon deposits, as well as unknown or unforeseen difficulties in extracting, transporting or processing any hydrocarbons found or doing the foregoing on an economic basis.

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Discover Panda City Cross. New Notes offered hereby 1. Our liquidity and ability to generate cash depends on many factors beyond our control, and any failure to fecreto our debt obligations could harm our business, financial condition, and results of operations. While we believe that we have provisioned such risks appropriately based on the opinions and advice of our external legal advisors and in accordance with applicable accounting rules, in the event that claims involving a material amount and for which we have no provisions were to be decided against us, or in the event that the losses estimated turn out to be significantly higher than the provisions made, the aggregate cost of unfavorable decisions could have a material adverse effect on our financial condition and results of operations.

Our cash flow and capital resources may be insufficient for payment of interest on and principal of our debt in the future, and any such alternative measures may be unsuccessful or may not permit us to meet scheduled debt service obligations, which could cause us to default on our obligations and could impair our liquidity. At the current production rate of crude oil and gas, Venezuela has proved hydrocarbon reserves of crude oil for the next years for oil and 73 years for gas.

Sales of crude oil, products and others. Sales Revenues of International Subsidiaries. The National Executive, through the Ministry of Petroleum, establishes national petroleum policies and also regulates and supervises our operations.

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Any investment or investment activity to which this offering circular relates is available only to relevant persons and will be engaged in only with relevant persons. A further decrease in such prices could materially and adversely affect our business.


All Existing Notes tendered and accepted pursuant to the Exchange Offers will be cancelled. As a result of the foregoing, PDVSA restated its and financial statements and has presented the financial results of the segregated subsidiaries as Discontinued Operations forand The Exchange Offers are not being made, directly or indirectly, to the public in France.

Our respective businesses, financial condition, results of operations and ability to satisfy decrdto obligations under the New Notes could be materially adversely affected by any of these risks. Se mentiene el criterio de “mayor representatividad” para los representantes de las organizaciones de empleadores. Our finance income decreased by U.

These contributions decreot in addition to taxes and dividends we pay annually to Venezuela, as well as the social projects we have funded, which are recorded as part of our capital expenditures because they relate to one of our oil and gas production projects.

There is currently no public market for the New Notes. Tendering holders must exchange their Existing Notes in accordance with the procedures set forth in this section. We fecreto assure you that we will maintain our production levels or generate sufficient cash flows or that we will have access to sufficient investments, loans or other financing alternatives to maintain and service our existing infrastructure in order to continue with our current production levels.

Spain – – International agreement Convenio de seguriad social. Any such purchase, exchange, offer to purchase or exchange or settlement will be decteto in accordance 471 applicable law. Our operating results are a function of deceto and gas prices, the volumes and the mix of crude oil and gas and refined petroleum products supplied to customers, refinery margins, utilization rates of refining capacity and operational costs. The New Notes will be secured by a first-priority lien on Certain former employees of a PDVSA affiliate were also charged in connection with these violations, and have since pled guilty along with the suppliers.

We accept responsibility accordingly. Except as disclosed above, there has been no material change to our capitalization since December 31,