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Venezuela: freeing up more dollars
Venezuelans are waiting anxiously for some kind of economic adjustment, which some have interpreted to mean there may be a devaluation in the works after it was announced last week that the measures...
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Another oil major pulls out of Venezuela
The revolving door at Venezuela’s oil sector continued to spin on Wednesday after Lukoil, Russia’s second largest oil producer, said it was withdrawing from a multi-billion dollar oil project in the...
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Is Venezuela finally ready to sell Citgo?
A long-proposed sale of Citgo, the US subsidiary of Venezuela’s state oil company PDVSA, is once again making some waves. Rafael Ramírez, the powerful boss of PDVSA who is also oil minister and deputy...
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Venezuela and sliding oil prices
Blame the Empire. Venezuela’s socialist President Nicolás Maduro on Wednesday accused the United States of oversupplying the market -in his words, “inundating the market”- to rattle oil prices. His...
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Venezuela dances the tango with Citgo
Venezuelans do not really dance the tango. But in the mooted sale of Citgo, the country’s US refining operation, that is what the socialist government has been doing – taking one step forward, two...
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Venezuela and Exxon: another round?
Wasn’t it the case that the compensation Venezuela was ordered to pay Exxon by a World Bank arbitration tribunal was a “favourable end” to a longstanding legal battle because it was considerably lower...
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Venezuela and Saudi Arabia: friends will be friends
Ali al-Naimi, Saudi Arabia’s oil minister (pictured above on the right), and Rafael Ramírez, Venezuela’s foreign minister (on the left) met on the resort island of Isla Margarita late on Wednesday on...
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EM oil producers risk ratings downgrade on low crude price
Bahrain, Angola, Ecuador and Venezuela rank as the emerging markets (EM) most vulnerable to a downgrade in their sovereign credit ratings if oil prices do not recover in 2015, Fitch Ratings said in a...
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Facing up to cheap oil: a tale of Latin America’s two Opec members
Last week Diezani Alison-Madueke, Nigeria’s oil minister and the president of Opec, called for an extraordinary meeting of the oil exporters’ cartel in the face of falling prices. Rafael Correa,...
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