Venezuela’s Glaring Gasoline Crisis
Iran has dominated the headlines over the last few weeks, but Venezuela’s oil sector continues to meltdown. Venezuela’s oil production fell to just 1.197 million barrels per day in September, Continue Reading
IEA: Venezuela’s Oil Production Is In Free Fall
While analysts were busy calculating how much Iranian oil will come off the market with the U.S. sanctions and whether Saudi Arabia and Russia are offsetting losses, crude oil production Continue Reading
Gasoline Shortages Hit Western Venezuela
Drivers reported staggering queues to fill their tanks in Venezuela’s western states over the weekend, as existing gasoline shortages worsened, impacting at least half of Venezuela’s 24 regions. In some Continue Reading
Venezuelan crude sales to the U.S. fell 19 percent in October
Venezuela’s crude sales to the United States declined 19 percent in October from September due to lower exports of upgraded oil from the country’s largest producing region, the Orinoco Belt, Continue Reading
Exclusive: Venezuela seeks to repatriate $550 million of gold from Britain – sources
Venezuela is seeking to repatriate about $550 million in gold bars from the Bank of England because of fears it could be caught up in international sanctions on the country, Continue Reading
Venezuelans Face Gasoline Shortages
Cars, motorcycles and buses wrapped around Caracas’ gas stations earlier this week as oil production and refining becomes increasingly erratic in the former petro giant. The fuel shortages have expanded Continue Reading
Venezuela’s Health Crisis Is Crossing the Border
Earlier this year, Elainy Portela watched with alarm as measles reappeared with a vengeance. Telltale red rashes covered six children near her home in Manaus, just off the highway used Continue Reading
PDVSA ex-executive admits taking bribes in guilty plea in U.S. court
A former finance executive of Venezuelan state oil company PDVSA accepted $17 million in bribes as part of a broad embezzlement scheme, U.S. federal prosecutors said on Wednesday, in a Continue Reading
Thousands of Venezuelans head to Peru to beat residency deadline
At least 6,000 Venezuelans lined up at Peru’s northern border on Tuesday in hopes of entering the country before a deadline for acquiring residency, and another 4,000 were due to Continue Reading
Venezuela Makes Payment on Citgo-Backed Bond
Oil exports make up 95% of Venezuela’s dollar earnings, and production has been falling off in large part due to a lack of access to capital. “The reason they’ve paid Continue Reading