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CARACAS, Venezuela (AP) - Venezuela's state oil company plans to avoid having to file detailed financial reports to the U.S. Securities and Exchange Commission by paying off its debt traded in U.S. markets, the company's president said.
"We should not be in the Security Exchange Commission, and when we pay off our private debt we will leave," Rafael Ramirez, president of Petroleos de Venezuela SA, or PDVSA, was quoted as saying in Wednesday's edition of the Venezuelan newspaper El Nacional.
The PDVSA strategy was confirmed Wednesday to The Associated Press by a company spokesman who insisted on anonymity because he is not authorized to be quoted by name.
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