Venezuela has made history as the first country to launch its very own Initial Coin Offering. The long-hyped Petro cryptocurrency has been the center of controversy and curiosity to many Continue Reading
While workers scramble to leave Venezuela’s state-held oil firm by the thousands, PDVSA has just told its employees that they are banned from following users on social media except for Continue Reading
The dramatic fall in Venezuela’s oil production has surprised many analysts and has helped to tighten the oil market more than expected. The country’s economic outlook is grim, and the Continue Reading
The Aruba government said on Thursday it started talks with the United States after Houston-based firm Citgo Petroleum slowed work on an overhaul of the Caribbean island’s 235,000-barrel-per-day refinery due Continue Reading
PDVSA, Venezuela’s state-oil company, is losing workers by the thousands, with as many as 10,000 leaving the company in just one week of January, media report, citing protests against low Continue Reading
Two months after Venezuelan President Nicolas Maduro surprised analysts and the cryptocurrency world with his idea to launch an oil-backed cryptocurrency, the socialist president said early on Tuesday that Venezuela Continue Reading
Venezuela’s economy on the brink of collapse Venezuelan leaders face an unprecedented economic crisis, and their currency is almost worthless. So they created a new one. Venezuela’s government on Tuesday Continue Reading
Venezuela is going to shop around for other buyers of its crude oil, should the United States make good on its threat to impose an oil embargo on the troubled Continue Reading
Mr Macron (right) spoke at a joint press conference with Argentina’s Mauricio Macri France’s President Emmanuel Macron has called for tougher sanctions against Venezuela, accusing it of violating democracy and Continue Reading
The Wall Street Journal reported last week that Venezuela’s oil output in December fell by 11 percent, to 1.62 million barrels per day (BPD). That capped a decline of 29 Continue Reading
Venezuela’s presidential election race has begun with favorite and incumbent Nicolas Maduro signaling a nationalist, “anti-Trump” campaign while his demoralized foes scramble to find a viable candidate for a vote Continue Reading
Mr Maduro said he welcomed the assembly’s decision to bring forward the poll Venezuela’s pro-government Constituent Assembly has ordered fresh elections before the end of April. President Nicolas Maduro told Continue Reading
Cash-strapped and crisis-stricken Venezuela “can easily manage” an oil production increase of 1 million bpd this year to lift its production capacity to 2.472 million bpd, its oil minister Manuel Continue Reading
Venezuela has more crude oil than any other nation. But the crisis there is so bad that even oil companies are losing… Venezuela has more crude oil than any other Continue Reading
With an estimated five percent of needed medicines available, Venezuela on Friday launched a health plan that relies on herbs and natural remedies. The “100 percent Natural Health Plan” seeks Continue Reading
U.S. oilfield service companies exposed to Venezuela face new hits to earnings from the South American nation’s ongoing economic turmoil and U.S. sanctions on the country and state-run oil company Continue Reading
A broken oil platform in the lake. Photo: Fabiola Ferrero for The Wall Street Journal A broken oil platform in the lake. Photo: Fabiola Ferrero for The Wall Street Journalinvestment Continue Reading
Venezuela’s oil output is collapsing at an accelerating pace, deepening an economic and humanitarian crisis and increasing the chances the country will default on its debts. Crude production fell 11% Continue Reading
Venezuelan oil output dropped 13 percent in 2017, falling to a 28-year low, official figures released by the Organization of Petroleum Exporting Countries (OPEC) said on Thursday. The Latin American Continue Reading
Global oil markets are tightening quickly on falling supply from Venezuela, which posted 2017’s biggest unplanned output fall and could see a further decline in 2018, the International Energy Agency Continue Reading
A broken oil platform in the lake. Photo: Fabiola Ferrero for The Wall Street Journal A broken oil platform in the lake. Photo: Fabiola Ferrero for The Wall Street Journal Continue Reading
According OPEC’s secondary sources data — provided by independent groups — Venezuela’s oil production fell by another 82,000 barrels per day (bpd) in December, taking output down to 1.745 million Continue Reading
The aftermath at a looted government food store in Guarico Saturday. (Aporrea) Bogota, January 16 2018 ( venezuelanalysis.com ) – Isolated incidents of looting broke out in several Venezuelan states Continue Reading
By mid-February, 38.4 million Petros could go on sale, raising $2.3 billion for the cash-starved government, VIBE, a new governmental advisory group, said. This is a large departure from the Continue Reading
Venezuela’s oil production has increased to near 1.9 million barrels per day after hitting a historic low last year, according to Manuel Quevedo, oil minister and head of state oil Continue Reading
I was interviewing participants at a 2003 antigovernment protest in Caracas, Venezuela when a woman approached me and put a United States-Venezuela crossed-flag “friendship pin” on my lapel. She then Continue Reading
Venezuela’s oil production has increased to near 1.9 million barrels per day (bpd) after hitting a historic low last year, according to Manuel Quevedo, oil minister and head of state Continue Reading
Venezuela is looking to tourism to boost its wrecked economy, but the empty beach in the resort town of Todasana last month underscores how the number of foreign visitors has Continue Reading
Venezuela’s crude oil sales to the United States fell for the second month in a row in December, knocking the year’s average to 593,047 barrels per day (bpd), the lowest Continue Reading
Venezuela has more oil than any other nation in the world, but it keeps pumping less and less. Oil production fell in December to one of its lowest points in Continue Reading
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
Venezuelan authorities said on Tuesday they had arrested 28 people in southern Bolivar state for looting and disorder over Christmas in the latest unrest during a severe economic crisis. There Continue Reading
Canada will expel a Venezuelan diplomat and bar that country’s ambassador from returning, Foreign Minister Chrystia Freeland said on Monday, after the South American nation booted envoys from Brazil and Continue Reading
“We think they were alive a good while as they died from asphyxia,” said Zair Mundaray, a veteran prosecutor who led the exhumation and investigation that pieced together how the Continue Reading
Venezuela’s PDVSA and international trading company Trafigura are in discussions to swap over 10 percent of the South American country’s crude output for imported fuels for domestic use, according to Continue Reading
Oil traders expecting steep production losses from Venezuela are likely to be underestimating the severity of the country’s crisis, according to analysts at RBC Capital Markets. In a research note Continue Reading
Venezuela has awarded licenses to a unit of Russian oil major Rosneft ( ROSN.MM ) to develop two offshore gas fields, Rosneft said in a statement. Venezuelan President Nicolas Maduro Continue Reading
Carlos Aquino weeping over the casket of his son, Kenyerber, who died of heart failure caused by severe malnutrition. Meridith Kohut for The New York Times Sisters and cousins of Continue Reading
Decisions at some joint ventures with foreign firms are delayed. A growing number of oil tankers sit idle because no one authorizes payments. Employees struggle to get approval for routine Continue Reading
Venezuela’s cash-strapped state oil firm PDVSA said that it had initiated bank transfers on Thursday to pay US$539 million in interest on four separate bonds, just hours before grace periods Continue Reading
Citgo Petroleum may look like a tempting target for bondholders of its parent company, Venezuelan-owned oil driller PDVSA, but the refinery operator’s complex debt structure could make its assets difficult Continue Reading
