Category: Latin America

Maduro says cryptocurrency to be known as the ‘petrocurrency’ To be backed by reserves in oil, natural gas, gold, diamonds Venezuela’s currency is in free fall. Cryptocurrencies such as bitcoin Continue Reading

Venezuelan president Nicolas Maduro said this week that PdVSA is willing to retaliate against financial sanctions from the U.S. by suspending oil exports to the country, sending crude to Asia Continue Reading

Venezuelan authorities on Thursday arrested two once-powerful officials who had run the oil ministry and state energy company PDVSA as part of a deepening industry purge also seen as a Continue Reading

True to his ‘anti-imperialistic’ rhetoric, Venezuela’s embattled President Nicolas Maduro now says that his country could stop selling its crude oil to the United States. “The day that they don’t Continue Reading

Imports of Venezuelan crude into the Louisiana Offshore Oil Port have totaled over 7 million barrels from January to November this year, almost three times the 2.5 million barrels in Continue Reading

Venezuelan President Nicolas Maduro on Sunday tapped a FILE PHOTO: The corporate logo of the state oil company National Guard major general to lead state oil company PDVSA [PDVSA.UL] and Continue Reading

President Nicolás Maduro named an active general to lead the state oil industry, the nation’s last major economic sector that had been outside the military’s control. National Guard Maj. Gen. Continue Reading

PDVSA reportedly told employees that they needed to carry out an austerity campaign, looking for ways to cut costs by 50 percent. The internal memo said that savings needed to Continue Reading