Venezuela’s state-run PDVSA is siphoning oil from its cash-paying joint ventures with foreign firms to feed its domestic refineries, two sources close to the matter told Reuters, at a time when late debt payments have triggered defaults. PDVSA asked its Petropiar joint venture with Chevron Corp to turn over as much as 45 percent of the oil it planned to export in November with no immediate reimbursement, one of the sources said this month. PDVSA did not respond to a request for comment. Chevron declined to comment. Sponsored The joint ventures export upgraded crude to buyers around the globe and the diversion cuts into the main source of the government’s revenue. One likely reason for the shift: […]