Man Who Spoiled Pacific Rubiales Oil Deal Has a Growth Plan
This article is for subscribers only.
The man who last month helped blow up a C$2.1 billion ($1.6 billion) bid for Pacific Rubiales Energy Corp. is now urging Latin America’s largest independent oil producer to expand amid the worst crude meltdown in decades.
Alejandro Betancourt, the 35-year-old Venezuelan who controls almost 20 percent of Pacific’s stock, says growth for the Colombia-based company hinges on its ability to tap new resources and markets in Mexico and Venezuela. In the meantime, it needs to sell assets to survive.