The government has forced more than 200 establishments to lower prices in the middle of a hyperinflationary spiral. Venezuela’s opposition-controlled legislature said Monday that inflation in the economically struggling nation Continue Reading
The Venezuelan Parliament, run by the opposition, voted on Tuesday to declare Nicolas Maduro’s plan to issue an oil-backed cryptocurrency—the Petro—illegal, claiming that it violates the constitution and attempts to Continue Reading
Since the election of Hugo Chávez Frias to the Venezuelan presidency in 1998, followed by Nicolás Maduro in 2013, Venezuela has endured steady decline with the approval of the new Continue Reading
President Nicolas Maduro said on Friday that Venezuela would issue 100 million units of its new oil-backed cryptocurrency in coming days, although it is unclear whether any investors will want Continue Reading
OPEC’s crude oil production remained largely unchanged from November in December, but that was mostly thanks to a 50,000-bpd decline in Venezuela’s production, as well as further cuts in Saudi Continue Reading
After lining up for an entire day to get a plane ticket to visit her relatives in the western city of Mérida, Josefina García did not know if she and Continue Reading
Venezuela is investigating Rafael Ramirez, a once powerful oil minister and former head of state oil company PDVSA, in connection with an alleged $4.8 billion Vienna-based corruption scheme, the state Continue Reading
A general with no energy experience has been installed as the head of the state oil company. Arrest s, firings, and desperate emigration have gutted top talent. Oil facilities are Continue Reading
Hundreds of Venezuelans took to the streets in poor parts of Caracas overnight to protest a shortage of pork for traditional Christmas meals in the latest symptom of social discontent Continue Reading
Venezuelan President Maduro shocked the market in early December when he followed China’s ‘petro-yuan’ futures announcement by making headlines of himself proclaiming a new national cryptocurrency – the ‘Petro’ – Continue Reading
