CARACAS (Reuters) – Venezuela has sold 9.9 percent of shares in oil joint venture Sinovensa to a Chinese oil company, President Nicolas Maduro said on Tuesday, adding the OPEC nation Continue Reading
As Venezuelans live with an unprecedented and recurring shortage of food and medicines, suffering through an economic crisis characterized by the highest inflation in the world and the lowest wages Continue Reading
Chinese President Xi Jinping and Venezuelan President Nicolas Maduro wave during a welcome ceremony in Beijing on Friday. | AP CARACAS – Venezuelan President Nicolas Maduro said Saturday he had Continue Reading
Fewer ships from China and the United States could use the Panama Canal if trade tensions escalate between the two economic giants, but the dip could be offset by grain Continue Reading
Venezuela’s President Nicolas Maduro is meeting with the top Chinese officials, including President Xi Jinping, as the socialist leader of the troubled Latin American oil producer is looking to convince Continue Reading
China agreed to several small oil deals with Venezuela this week but gave no public confirmation that it would extend more loans to the cash-strapped country during a rare visit Continue Reading
Venezuela resumed supplying a key domestic crude to political ally Cuba this summer as the South American country’s refining output fell further, according to internal documents from state-run oil firm Continue Reading
When Nikki Haley told the UN Security Council this week that “enough is enough” and “we need to do something”, she was not suggesting that Tomahawk missiles should soon rain Continue Reading
Caracas is preparing the return of oil contracts with private companies that were last used in the 1990s before the Chavez era that made PDVSA the one and only operator Continue Reading
Venezuelan President Nicolas Maduro is traveling to China to discuss economic agreements, as the crisis-struck OPEC nation seeks to convince its key Asian financier to disburse fresh loans. “I am Continue Reading
Venezuela has agreed to hand over at least seven oil fields to little-known companies that will be paid to boost output through contracts similar to ones rolled back under late Continue Reading
Earlier this year, Venezuelan President Nicolas Maduro rolled out his latest scheme to rescue his economy, offer an alternative to the increasingly worthless bolivar, and skirt U.S. sanctions on financial Continue Reading
Chevron Corp said on Friday an international tribunal ruled in its favor in an environmental dispute with Ecuador, finding the South American nation had violated its obligations under international treaties. Continue Reading
The size and frequency of anti-government protests has dropped in the past year, but opposition forces remain divided. (Ariana Cubillos/Associated Press) Despite some of the world’s worst inflation and an Continue Reading
Venezuela has created a commission to reorganize state oil company PDVSA in the coming months, according to the Official Gazette circulating on Thursday. PDVSA did not immediately respond to an Continue Reading
The outcome of Brazil’s upcoming presidential election is astoundingly unclear, with scenarios that range from a winner from the far-right, center or left. The energy industry is certainly not at Continue Reading
The Royal Navy of the United Kingdom has intercepted an Argentinian survey ship that a Navy commander suggested had been ‘snooping for oil’ on the edge of British territorial waters Continue Reading
U.S. oil producer ConocoPhillips ( COP.N ) is still awaiting payment from Venezuela on a $2 billion arbitration settlement reached last month with the country’s state-run PDVSA, Chief Executive Ryan Continue Reading
Hard hit by a currency crunch amid skyrocketing hyperinflation, Venezuela will raise the price of the gasoline in the coming months, President Nicolas Maduro has said, unveiling a new payment Continue Reading
Frustrated Venezuelan drivers faced lengthy lines for gasoline in border states on Tuesday as the government struggled to roll out a new payment system that President Nicolas Maduro says will Continue Reading
Venezuela will hike the price of its heavily subsidized gasoline by October, President Nicolas Maduro said on Monday, as the crisis-stricken government seeks to shore up its coffers amid hyperinflation Continue Reading
Earlier this year, Venezuelan President Nicolas Maduro rolled out his latest scheme to rescue his economy, offer an alternative to the increasingly worthless bolivar, and skirt U.S. sanctions on financial Continue Reading
Six mostly foreign companies have so far made bids to explore for oil in 21 areas in Colombia under a new system that seeks to boost investment and find new Continue Reading
Brazil’s state-run oil company Petrobras ( PETR4.SA ) and France’s Total ( TOTF.PA ) on Friday agreed to buy millions of barrels of oil cargo from the Brazilian government, its Continue Reading
Venezuela’s state-run PDVSA is organizing a contingency plan to address its latest oil-export problem following a minor accident last week at the country’s main crude terminal, two sources from the Continue Reading
To hear Venezuela’s leftist President Nicolas Maduro tell it, this remote hamlet of 1,300 souls is perched on the cutting edge of an innovation in cryptocurrency. Located in an isolated Continue Reading
Venezuela’s state oil firm PDVSA has said that it signed a US$430 million joint service agreement with seven companies that would help it increase its crude oil production by 641,000 Continue Reading
Brazil’s oil regulator ANP has approved the applications of six companies—including Big Oil’s BP, Shell, and Total—to bid in next month’s oil auction of four blocks in the coveted pre-salt Continue Reading
The closing of a dock at Venezuela’s main oil export port could delay as much as 5 million barrels in crude deliveries to Russian company Rosneft, further complicating oil-for-loan agreements Continue Reading
After expressing concern about the long-term future offshore Norway, energy major Equinor said Wednesday that Brazil’s energy sector was now a core area. Equinor has more than 90,000 barrels of Continue Reading
Investing $8 billion in Brazil’s waning offshore Campos Basin could boost its oil production by 230,000 barrels of oil equivalent per day (boepd) by 2025, consultancy Wood Mackenzie said in Continue Reading
Venezuela’s state oil firm Petroleos de Venezuela SA (PDVSA) PDVSA.UL said on Saturday it filed an appeal requesting that a Delaware court vacate a decision on Aug. 23 granting Canadian Continue Reading
At least four tankers loaded with ultra-low-sulfur diesel (ULSD) en route from the U.S Gulf Coast to Europe abruptly changed course this week to Brazil, following a fire at a Continue Reading
The exodus of migrants from Venezuela is building toward a “crisis moment” comparable to events involving refugees in the Mediterranean, the United Nations migration agency said on Friday. Growing numbers Continue Reading
News of the assault prompted Pacaraima locals, who already had been planning a protest the next day, to set fire to a refugee camp and chase away Venezuelans with rocks. Continue Reading
Panama is carrying out studies for potential oil exploration, hoping that recently discovered oil fields in neighboring Colombia close to Panama’s border could extend into Panama. Panama is 100-percent dependent Continue Reading
For 40 years, Víctor Urbina has sold sweets from a stand outside a shopping centre in Caracas. Now 80, his hair white, he lived through the city’s infamous “Caracazo” of 1989 Continue Reading
The UN urged Venezuela’s neighbors on Thursday to keep their borders open as thousands of migrants continue to pour out of the country to escape hyperinflation and economic collapse. Speaking Continue Reading
A U.S. judge has granted a Canadian company the right to go after prized U.S. assets belonging to Venezuela, in a bid to get paid on an $1.4 billion award Continue Reading
Caracas, Venezuela — Venezuelan state oil company PDVSA is preparing to increase fuel prices in the domestic market in September after two decades of frozen rates and millions of dollars Continue Reading
Krull, formerly managing director and vice chairman of Swiss bank Julius Baer, pleaded guilty to one count of conspiracy to commit money laundering, and is now expected to be sentenced Continue Reading
When Henrique Rosales got to the automated-teller machine on Tuesday to withdraw Venezuela’s new currency, he found it dispensed a maximum of 10 sovereign bolivars a day, the equivalent of Continue Reading
U.S. producer ConocoPhillips ( COP.N ) and Venezuela’s PDVSA have reached a payment agreement on a $2-billion arbitration award, the companies said, suspending a dispute that blocked the state-run firm Continue Reading
PDVSA settled with ConocoPhillips on Monday over an outstanding debt issue, a move that the Venezuelan oil company surely hopes will give it some breathing room even as the nation Continue Reading
In 2007, following Venezuela’s expropriation of billions of dollars of assets from U.S. companies like ExxonMobil and ConocoPhillips, I suggested a potential remedy. Since Venezuela’s state-owned oil company, PDVSA (Petróleos Continue Reading
Venezuelan migrants stuck at Ecuador border Ecuador has brought in new rules to stop Venezuelan migrants entering the country without a passport, leaving many stranded in neighbouring Colombia. Thousands of Continue Reading
The exodus of Venezuelans gained pace as the government’s plans to address the collapsing economy fueled anxiety, while tensions grew in neighboring countries that have strained to absorb refugees. Over Continue Reading
With President Nicolás Maduro’s radical new plan to curb runaway inflation poised to come into effect Monday, Venezuelans braced for what experts say could soon be a deeper plunge into Continue Reading
Jittery Venezuelans on Friday rushed to shops and lined up at gas stations on concerns that a monetary overhaul to lop off five zeros from prices in response to hyperinflation Continue Reading
Panama on Friday will sign an agreement with the U.S. Treasury and Energy departments aimed at paving the way for more private investment to expand the importation and distribution of Continue Reading
