U.S. judge lets Canadian company pursue assets from Venezuela’s Citgo
A U.S. judge has granted a Canadian company the right to go after prized U.S. assets belonging to Venezuela, in a bid to get paid on an $1.4 billion award Continue Reading
Venezuela’s PDVSA preparing to hike domestic fuel prices in September
Caracas, Venezuela — Venezuelan state oil company PDVSA is preparing to increase fuel prices in the domestic market in September after two decades of frozen rates and millions of dollars Continue Reading
Guilty Plea Entered In Billion-Dollar PDVSA Money Laundering Case
Krull, formerly managing director and vice chairman of Swiss bank Julius Baer, pleaded guilty to one count of conspiracy to commit money laundering, and is now expected to be sentenced Continue Reading
Venezuelans Skeptical of Maduro’s Latest Measures to Salvage Economy
When Henrique Rosales got to the automated-teller machine on Tuesday to withdraw Venezuela’s new currency, he found it dispensed a maximum of 10 sovereign bolivars a day, the equivalent of Continue Reading
ConocoPhillips, Venezuela’s PDVSA reach $2 billion settlement
U.S. producer ConocoPhillips ( COP.N ) and Venezuela’s PDVSA have reached a payment agreement on a $2-billion arbitration award, the companies said, suspending a dispute that blocked the state-run firm Continue Reading
PDVSA Settles With ConocoPhillips In Desperate Bid to Stop Decline
PDVSA settled with ConocoPhillips on Monday over an outstanding debt issue, a move that the Venezuelan oil company surely hopes will give it some breathing room even as the nation Continue Reading
Venezuela’s Key Refineries At Risk Of Seizure
In 2007, following Venezuela’s expropriation of billions of dollars of assets from U.S. companies like ExxonMobil and ConocoPhillips, I suggested a potential remedy. Since Venezuela’s state-owned oil company, PDVSA (Petróleos Continue Reading
Ecuador tightens entry rules for Venezuelan migrants
Venezuelan migrants stuck at Ecuador border Ecuador has brought in new rules to stop Venezuelan migrants entering the country without a passport, leaving many stranded in neighbouring Colombia. Thousands of Continue Reading
Venezuelan Crisis Escalates as President’s Economic Plans Fuel Tensions
The exodus of Venezuelans gained pace as the government’s plans to address the collapsing economy fueled anxiety, while tensions grew in neighboring countries that have strained to absorb refugees. Over Continue Reading
Maduro has a plan to fix Venezuela’s inflation — which may make things worse
With President Nicolás Maduro’s radical new plan to curb runaway inflation poised to come into effect Monday, Venezuelans braced for what experts say could soon be a deeper plunge into Continue Reading