With the end of the 54-year U.S. trade embargo on Cuba, and Cuban government moves to encourage foreign investors, Cuba is a suddenly attractive venue that is sitting on an Continue Reading
The new opposition-controlled National Assembly in Venezuela plans to speed up moves to oust the government of Nicolas Maduro as economic woes deepen. Parliament speaker Henry Ramos Allup said proposals Continue Reading
In a hospital in the far west of this beleaguered country, the economic crisis took a grim toll in the past week: Six infants died because there wasn’t enough medicine Continue Reading
Venezuela’s highest court has cleared the path for Nicolás Maduro, the president, to enact emergency economic measures after it overruled the country’s new opposition-controlled legislature. The controversial move by the Continue Reading
Venezuela President Nicolas Maduro moved to increase the military’s involvement in the country’s oil and mining industries with the creation of a new state company that will report to the Continue Reading
Venezuela’s Supreme Court declared an emergency decree President Nicolas Maduro says he needs to fight triple-digit inflation and the deepest recession in over a decade to be legal and valid, Continue Reading
Petroleos de Venezuela SA cut 2015 capital spending as the state oil company grappled with crude prices that last month extended a decline to the lowest in almost 13 years. Continue Reading
Goodyear Tire & Rubber became the latest big US company to detail damage from Venezuela’s financial crisis when the automotive tyre manufacturer reported a $646m charge against fourth-quarter earnings. Laura Continue Reading
Financial markets expect Venezuela to default on its debt during the next few years. The first big test of that occurs this month. Venezuela is trying to convince bond investors Continue Reading
In the capital, water is so expensive and scarce that residents wait for hours with bottles at the side of a mountain where it trickles out onto the highway. In Continue Reading
Venezuelan Oil Minister Eulogio Del Pino, on a tour of oil producers to lobby for action to prop up prices, said on Thursday he had a “good and productive” meeting Continue Reading
The first US crude oil cargo destined for the Caribbean region has arrived at Bullen Bay, Curacao and was priced at a $3.96/b premium to the NYMEX light sweet crude Continue Reading
Millions of pounds of provisions, stuffed into three-dozen 747 cargo planes, arrived here from countries around the world in recent months to service Venezuela’s crippled economy. But instead of food Continue Reading
Venezuela’s state-owned oil company, which has access to the world’s largest reserves, took delivery of its first U.S. crude since export restrictions were lifted last year. Petroleos de Venezuela SA Continue Reading
The Russian leg of Venezuelan Oil Minister Eulogio Del Pino’s tour to persuade major oil exporters to cut production gained little more than pledges for further discussion. Igor Sechin, chief Continue Reading
Venezuela’s Oil Minister Eulogio Del Pino faces an uphill battle persuading Russia and Saudi Arabia to cooperate in cutting oil production amid a supply glut that has pushed prices down Continue Reading
The only question now is whether Venezuela’s government or economy will completely collapse first. The key word there is “completely.” Both are well into their death throes. Indeed, Venezuela’s ruling Continue Reading
Venezuela’s opposition refused on Friday to approve President Nicolas Maduro’s “economic emergency” decree in Congress, saying it offered no solutions for the OPEC nation’s increasingly disastrous recession. Underlining the grave Continue Reading
Farmers brought parts of Uruguay to a standstill this week demanding the government help them recover unpaid bills from Venezuela in the latest sign that the crisis-ravaged South American country Continue Reading
Venezuela Oil Minister Eulogio del Pino called on Thursday for OPEC and non-OPEC producers to meet in February to discuss bolstering low oil prices that have hammered the recession-hit South Continue Reading
Venezuela has requested that OPEC hold an emergency meeting to discuss steps to prop up oil prices, which have fallen to their lowest since 2003, two OPEC sources said on Continue Reading
Clutching egg cartons on his shoulder, a young man wades precariously through a muddy river on Venezuela’s western jungle border where a Colombian shopkeeper will happily buy them up. On Continue Reading
American Airlines Group Inc on Tuesday said it has written off more than half a billion dollars in revenue stuck in Venezuela because of currency controls. American, the world’s largest Continue Reading
Venezuela on Friday released its first economic data in more than a year Friday, showing an economy in shambles and inflation at a historic high. The Central Bank for the Continue Reading
The Venezuelan government has announced a 60-day economic emergency to deal with the country’s worsening crisis. President Nicolas Maduro will rule by edict for two months. The decree includes tax Continue Reading
Argentina’s YPF SA YPF 2.34 % and American Energy Partners LP, run by energy industry veteran Aubrey McClendon , signed a deal Thursday to jointly explore and develop unconventional oil Continue Reading
Petrobras’s finances have come under intense strain since a multibillion-dollar bribery scandal emerged at the company in 2014. With about $104bn in net debt — the highest for any Continue Reading
Venezuela’s Supreme Court has ruled that decisions by the country’s new opposition-controlled legislature are void until three banned opposition lawmakers are removed from office, deepening a power struggle in the Continue Reading
Venezuela’s new economy minister , who has argued that inflation doesn’t exist “in real life,” said policies to be announced on Jan. 12 would seek to avoid sacrifices by ordinary Continue Reading
Venezuela’s new opposition congress on Wednesday swore in three lawmakers barred by the Supreme Court from taking their seats, setting up a direct confrontation with the ruling socialists in this Continue Reading
Venezuela’s opposition took majority control of the National Assembly on Tuesday after years in the political wilderness, setting the stage for a potential power struggle with embattled President Nicolas Maduro. Continue Reading
A decision by Venezuela’s president to curb legislative oversight of the central bank has increased the embattled country’s prospects of sliding into hyperinflation, according to analysts. The tactic is the Continue Reading
Aldemir Bendine has been the company’s chief for 11 months. In Portuguese that stands for Tuesday, Wednesday, Thursday—the three days a week that Mr. Bendine typically shows up at the Continue Reading
In Venezuela, where 2015 ended on grenade blasts alongside fireworks, the start of the new year promises an explosive showdown as an opposition-led legislature is sworn in on Tuesday. Incoming Continue Reading
Venezuela’s state oil company is temporarily halting natural-gas exports across the border to Colombia, citing climate factors and the need to generate electricity, the Colombian government said Friday. Petróleos de Continue Reading
At a Christmas breakfast with journalists, Aldemir Bendine, the chief executive of Petrobras, said Brazil’s state-controlled oil company was aiming to become “smaller” thanks to an array of planned asset Continue Reading
The secretary general of Venezuela’s opposition coalition denounced a move by the ruling United Socialist Party of Venezuela (PSUV) to challenge the results of the country’s Dec. 6 legislative elections, Continue Reading
A key gauge of Brazil’s public finances, the primary fiscal deficit, ballooned in November to one of the worst levels since records began. In a stark illustration of the challenges Continue Reading
A nongovernmental group that tracks crime in Venezuela says the homicide rate climbed in 2015, putting the country on track to be one of the most violent in the world. Continue Reading
Forget the opposition. OPEC is doing more to ruin the holiday season for Venezuela President Nicolas Maduro than any of his rival lawmakers. Maduro stepped up attacks on his opponents Continue Reading
A leading contractor for Venezuela’s state oil company and another businessman were arrested by U.S. authorities on charges of bribing foreign government officials, wire fraud and money laundering, the first Continue Reading
U.S. prosecutors are preparing to unveil drug trafficking charges against the head of Venezuela’s National Guard, according to people familiar with the case, as the United States investigates the suspected Continue Reading
Under a tent decorated in the yellow, blue and red of Venezuela’s flag, members of the ruling socialist party mingled and drank at a sporting event recently with opposition critics, Continue Reading
As president, Hugo Chávez lavished millions from this country’s oil boom on his home state of Barinas. He built a soccer stadium, highways, apartment houses and a hospital. He sang Continue Reading
There they were, two of the gray-haired confidants of Hugo Chávez , Venezuela ’s late leftist leader, voicing their indignation at the government bumbling that led to Sunday’s stinging electoral Continue Reading
Brazil currently rated Baa3, lowest level of investment grade S&P had already cut the country’s rating to junk in September Brazil’s sovereign rating was put on review for a cut Continue Reading
Venezuelan electoral authorities have confirmed that the opposition has won a key two-thirds majority, enabling it to challenge President Nicolas Maduro. The opposition said it would work to release jailed Continue Reading
Just when it looked like change was coming to Venezuela, along came OPEC to spoil the party. Celebrations were still taking place in Caracas in the aftermath of elections Sunday Continue Reading
In a tweet hinting at defeat two hours before polls closed in congressional elections on Sunday, Venezuela’s vice-presidency praised Salvador Allende, the former Marxist president of Chile, for forging ahead Continue Reading
Venezuelans voted for a new legislature on Sunday in an election that may punish the ruling Socialists for a brutal economic crisis and give the opposition a long-sought platform to Continue Reading
