Venezuela Tense As Unrest Over President Maduro's Government Continues

Analysts and investors are trying to figure out the point at which oil prices fall too low for Venezuela to continue servicing its debt. The country’s export revenues are 95% oil reliant. “But this week’s fall in the oil price has further fomented worries of a possible default, pushing up Venezuelan bond yields to more than 18 per cent and boosted credit default swaps to over 2,230 basis points.” [Financial Times]

The Federal Energy Regulatory Commission is conducting 3 investigations into last winter’s extremely cold weather that caused infrastructure bottlenecks and price spikes. One concern is that companies manipulated prices to take advantage of the situation. [The Hill]

The government of India announced plans to purchase 15 GW of solar power from developers over the next 5 years. “In this phase of the NSM, part 1 of tranche 1 will consist of 1,000 MW. The government will buy power from a maximum of 20 developers, and each project size is limited to 50 MW. Each developer can bid for up to five projects with a total of 250 MW.” [Renewable Energy World]