More hydrocarbons found in Gulf of Mexico
A Colombian energy company said it was involved in a new oil discovery in the U.S. waters of the Gulf of Mexico, its fifth so far. A U.S. subsidiary of Continue Reading
Venezuelans Protest Over Worthless Cash
MARACAIBO, Venezuela—Desperate and cashless Venezuelans, angry that the government hasn’t exchanged their voided bank notes as officials had pledged, on Friday rose up in protest with some scattered looting of Continue Reading
Petróleo Brasileiro Signs Financing Deal with China Development Bank
Brazil’s state-controlled oil company Petróleo Brasileiro SA said Friday it signed a $5 billion financing deal with the China Development Bank, the latest example of a troubled Latin American issuer Continue Reading
Venezuela’s 100-bolivar note withdrawal causes chaos
Venezuela’s highest denomination banknote has ceased to be legal tender, in a move that has caused cash chaos and long queues at banks this week. Some cash machines on Thursday Continue Reading
Threat of hyperinflation haunts Venezuela
Long queues continued to form outside banks across the Venezuelan capital Caracas on the day President Nicolás Maduro was set to do away with smaller denomination bank notes, amid mounting Continue Reading
Cuba and Venezuela’s Ties of Solidarity Fray
Fidel Castro and Hugo Chávez proclaimed a decade ago that they presided over a single country, combining Cuba’s educated workforce with Venezuela’s oil wealth to challenge U.S. power across Latin Continue Reading
Venezuelans Rush to Banks to Exchange Bills During Crackdown on Contraband
Venezuelans desperately rushed to banks Tuesday to dump cash after the government announced it is eliminating the largest bank note in circulation to combat contraband in a country whipsawed by Continue Reading
Desperate to dump soon-worthless cash, Venezuelans flock to banks
Lining up from dawn with backpacks and plastic bags full of cash, Venezuelans flocked to banks across the nation on Tuesday to ditch 100-bolivar bills after President Nicolas Maduro’s surprise Continue Reading
The Venezuelan Crisis Continues To Spiral Out Of Control
Venezuela’s economic, humanitarian and political crisis has not shown any sign of improving since the opposition and the government started “the dialogue” mediated by the Vatican and UNASUR. The crisis Continue Reading
China suitor tightens grip on Curacao oil project
China’s Guangdong Zhenrong Energy Co will submit a plan by April to revamp a century-old oil refinery in Curacao, as it seeks to secure a $5.5 billion project that will Continue Reading