Russia, China And Iran Lose Interest In Venezuela
Since the election of Hugo Chávez Frias to the Venezuelan presidency in 1998, followed by Nicolás Maduro in 2013, Venezuela has endured steady decline with the approval of the new Continue Reading
Maduro says Venezuela will issue $5.9 billion in oil-backed cryptocurrency
President Nicolas Maduro said on Friday that Venezuela would issue 100 million units of its new oil-backed cryptocurrency in coming days, although it is unclear whether any investors will want Continue Reading
ExxonMobil sees sixth ‘home run’ oil discovery in Guyana
ExxonMobil’s sixth “home run” oil find on the Stabroek block offshore Guyana in less than three years may not only push estimated recoverable reserves notably higher, but could further whittle Continue Reading
OPEC Should Thank Venezuela For Falling Production
OPEC’s crude oil production remained largely unchanged from November in December, but that was mostly thanks to a 50,000-bpd decline in Venezuela’s production, as well as further cuts in Saudi Continue Reading
Petrobras to pay $2.95 billion to settle U.S. class action over corruption
Brazil’s state-controlled oil company, Petroleo Brasileiro SA ( PETR4.SA ), said Wednesday that it has agreed to pay $2.95 billion to settle a U.S. class action brought by investors seeking Continue Reading
Oil-Rich Venezuela Is Out Of Gasoline
After lining up for an entire day to get a plane ticket to visit her relatives in the western city of Mérida, Josefina García did not know if she and Continue Reading
Venezuela probes ex-oil czar Ramirez over alleged graft scheme
Venezuela is investigating Rafael Ramirez, a once powerful oil minister and former head of state oil company PDVSA, in connection with an alleged $4.8 billion Vienna-based corruption scheme, the state Continue Reading
Once a Cash Cow, Venezuela’s Oil Company Now Verges on Collapse
A general with no energy experience has been installed as the head of the state oil company. Arrest s, firings, and desperate emigration have gutted top talent. Oil facilities are Continue Reading
Venezuelans protest over pork shortage, Maduro blames Portugal
Hundreds of Venezuelans took to the streets in poor parts of Caracas overnight to protest a shortage of pork for traditional Christmas meals in the latest symptom of social discontent Continue Reading
Venezuela Backs Its New Cryptocurrency With 5 Billion Barrels Of Crude
Venezuelan President Maduro shocked the market in early December when he followed China’s ‘petro-yuan’ futures announcement by making headlines of himself proclaiming a new national cryptocurrency – the ‘Petro’ – Continue Reading