The consortium designing and building the Panama Canal’s new set of expanded locks says they are working at full capacity and ready to receive their first ships. Grupo Unidos por Continue Reading
Venezuela is running out of just about everything. Food, medicine, electricity, toilet paper, condoms — you name it. And over the weekend at least two large international airlines — Lufthansa Continue Reading
As Venezuela drowns in debt and takes its state-run oil company, PDVSA, down with it, Reuters is reporting that BP has over 2 million barrels of oil stuck at a Continue Reading
Lufthansa has cancelled the only flight between Germany and Venezuela, underlining the worsening conditions and growing isolation of the South American country. The German airline has flown from its Frankfurt Continue Reading
Oh, that men should put an enemy in their mouths to steal away their brains.Nicolás Maduro’s stint as president of Venezuela has had Shakespearean overtones from the start. Ascending to Continue Reading
On one side, under the burning midday sun of Maracay in north-central Venezuela, hundreds of angry people have been waiting in line since 4am to buy food. On the other Continue Reading
Venezuela’s gold reserves have plunged to their lowest level on record after it sold $1.7bn of the precious metal in the first quarter of the year to repay debts. The Continue Reading
As U.S. gas exports ramp up, new route will slash time to Asia A century after transforming global markets, the Panama Canal is about to redraw world trade once again. Continue Reading
NUMEROUS GOVERNMENTS, including the Obama administration, last week called for political negotiations in Venezuela to head off an incipient and potentially catastrophic breakdown of political and economic order. Former Spanish Continue Reading
The Venezuelan economy is melting down, leading to a growing humanitarian crisis . Electricity shortages and a general shortfall in investment are also putting a dent in the country’s oil Continue Reading
It has been less than two months since I visited Caracas, Venezuela. While things were already very bad when I was there, they are now worse. Power shortages have deepened Continue Reading
Falkland Oil Offshore Falklands oil and gas producer Rockhopper Exploration Plc has announced that its net contingent oil reserves have doubled to more than 300 million barrels, and independent experts Continue Reading
Venezuela is preparing for the biggest military exercises in its history this Saturday after the South American country’s government said it’s on high alert as the opposition pushes for a Continue Reading
As opposition to Venezuela’s President Nicolas Maduro intensifies, the country is now preparing for the biggest military exercises in its history this Saturday – an opportunity to flex its military Continue Reading
Colombia’s second-largest oil pipeline has been taken offline by a rebel attack which spilled crude oil into the Bojaba river, this is the fourteenth such attack this year. While no Continue Reading
Venezuela can’t pay its millions of dollars in debt to Indian pharmaceutical companies, say Indian officials, so officials are considering a proposal that would see the Latin American company swap Continue Reading
Venezuelan security forces fired tear gas at protesters in Caracas on Wednesday amid nationwide rallies demanding a recall referendum to end President Nicolas Maduro’s socialist rule. In the third day Continue Reading
Venezuela is the great failure of the western hemisphere. A large, seemingly wealthy, apparently modern and resource-rich country, only a three-hour flight from the US, is on the brink of Continue Reading
It was around noon when a food truck rolled up to a Venezuelan state-subsidized supermarket in the town of Guarenas just east of the capital. But, to the fury of Continue Reading
Venezuela Oil Output May Go All the Way to Zero Venezuela is offering oil at the biggest discounts in seven years as the third-largest supplier to U.S. refineries fights to Continue Reading
By morning, three newborns were already dead. The day had begun with the usual hazards: chronic shortages of antibiotics, intravenous solutions, even food. Then a blackout swept over the city, Continue Reading
Venezuela has reached a deal with its main financier China to improve the conditions of an oil-for-loans deal, giving the OPEC member’s crisis-hit economy “oxygen” ahead of heavy debt payments, Continue Reading
Last Friday, President Maduro announced that he would extend the economic emergency powers decree (The same one that the National Assembly did not approve, but the Supreme Court said it Continue Reading
Ramón Muchacho, Mayor of Chacao in Caracas, said the streets of the capital of Venezuela are filled with people killing animals for food. Through Twitter, Muchacho reported that in Venezuela, Continue Reading
Crowds of people in Venezuela have stolen flour, chicken and even underwear this week as looting increases across the country in the wake of shortages of many basic products. Many Continue Reading
Complejo Paraguaná Refinery operates at a 108,000-barrel capacity, but reported it was only processing 60,000 barrels per days. ( ACN ) Español Venezuelans have yet another hardship to overcome in Continue Reading
Venezuela’s President Nicolas Maduro gestures as he talks to supporters during a rally to commemorate May Day, in Caracas, Venezuela, May 1, 2016. Venezuelan President Nicolas Maduro declared a 60-day Continue Reading
Venezuela, where clashes erupted this week between security forces and demonstrators protesting food shortages, power blackouts and political gridlock, may be headed toward an all-out popular uprising that could lead Continue Reading
Petrobras Office Brazil’s Senate voted to approve impeachment proceedings against President Dilma Rousseff, forcing her to step down in order to stand trial. Vice President Michel Temer will now succeed Continue Reading
Petrobras’ stock has been a disaster for investors for years. Even when virtually every other oil company on the planet was seeing their stock move higher, PBR still somehow managed Continue Reading
The question for businessmen and governments with a stake in the deteriorating situation in Venezuela is no longer if the regime of Nicholas Maduro will come to a premature end, Continue Reading
Venezuela’s oil industry is at risk of grinding to a halt, along with the rest of the nation, as El Guri, Venezuela’s largest hydroelectric power facility, could see a drop Continue Reading
Halliburton Co. has joined rival Schlumberger Ltd. in curbing activity in Venezuela due to lack of payment during the oil industry’s worst financial crisis. “During the first quarter of 2016, Continue Reading
Venezuela’s oil output in the first quarter of the year has fallen more than investors had expected, with a production level expected to remain at a lower level for the Continue Reading
Venezuelan state oil firm PDVSA has issued at least $310 million in debt to companies including General Electric Co ( GE.N ) as it negotiates private issuances to pay off Continue Reading
Venezuelan bonds tumbled Tuesday after IPD Latin America said the country’s oil production fell more than investors had expected. The yield on the country’s benchmark dollar bond due in 2027 Continue Reading
Venezuela’s imports have plunged 40 percent in the past year, heightening the misery of its beleaguered people, according to estimates by Bank of America Merrill Lynch. The country, which boasts Continue Reading
On Tuesday, Venezuela shortened its workweek to just two days as the country suffers through a deepening power crisis. Venezuela sources about 60 percent of its electricity from hydroelectric dams, Continue Reading
Eni SpA warned it expects payment delays from Venezuela as the Italian energy explorer faces the same challenges that forced Schlumberger Ltd. to cut back activity in the country with Continue Reading
Few countries need oil’s rally to last more than Venezuela, where the economy’s expected to shrink 8 percent this year and a lack of petrodollars has seen shops run short Continue Reading
Venezuelan bureaucrats will work two days a week to save electricity in the country facing a deepening energy crisis. Public employees, who account for more than a third of Venezuela’s Continue Reading
Venezuela has proposed that non-OPEC oil producers attend the group’s June meeting in Vienna to continue “dialogue and coordination,” according to a letter from the South American country’s oil minister Continue Reading
Venezuela—home to the largest oil reserves in the world–will for the next 40 days experience a four-hour blackout every single day, and there are fears that the rationing could lead Continue Reading
President Nicolás Maduro’s government said on Thursday that it would cut electrical power by four hours a day for 40 days across much of Venezuela to save energy, even though Continue Reading
The drought has dried up the massive Guri Dam in Bolivar state seriously depleting the country’s ability to generate energy. Venezuela is introducing power cuts of four hours a day Continue Reading
Venezuela will begin rationing electricity Monday for four hours daily in the 10 most-populated states, including five states with oil operations, electricity minister Luis Motta said Thursday. The states affected Continue Reading
The Brazilian pre-salt bonanza has now officially begun, with Norway’s Statoil and partners announcing production of the first oil and gas from the offshore Gavea field in Brazil—part of the Continue Reading
Pacific has become a major bust from the commodity downturn. At its peak, it was… BOGOTÁ, Colombia—Latin America’s largest privately owned oil producer said it was preparing to file for Continue Reading
Energy company Statoil and partners Repsol Sinopec Brasil and Petrobras have struck oil off the coast of Brazil, in a deepwater offshore area called the Campos Basin, the Norwegian firm Continue Reading
* Oil minister sees 2016 output at 2.8 mil b/d, exports at 2.3 mil b/d * Suggests OPEC-only talks on June 2, to find consensus within group Venezuela is working Continue Reading
