Politics Hugo Chavez

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  • CARACAS/ BOGOTA, July 26- Even for Venezuela's notoriously opaque economy, it was a sweetheart deal that went too far. Last August, state oil company Petroleos de Venezuela SA issued one of its largest tenders in recent years: a multi-billion dollar project in the Orinoco Belt, the world's largest crude reserve. Trenaco, headquartered in Switzerland but largely...

  • Venezuelan soldiers participate in a parade to celebrate the 195th anniversary of the Battle of Carabobo in Caracas, June 24, 2016.

    As his country's economy implodes around him, Venezuelan strongman Nicolas Maduro has resorted to what may be a last-ditch effort to stay in power.

  • Kimberly-Clark, which makes Huggies diapers and Kleenex tissues, said at the weekend it was halting its two-decade Venezuela operations as it was unable to obtain raw materials or hard currency and was struggling with high inflation. After U.S. cleaning products maker Clorox Co pulled out of Venezuela in 2014, the government also announced workers would...

  • CARACAS, July 11- Venezuela's socialist government said on Monday it was taking over and re-activating a plant that U.S. personal care products maker Kimberly-Clark Corp has halted due to the nation's economic crisis. Kimberly-Clark, which makes Huggies diapers and Kleenex tissues, said at the weekend it was halting its two-decade-old Venezuela operations...

  • HOUSTON/ CARACAS, July 8- Venezuela's falling crude output and financial woes have left it struggling to maintain a 15- year-old oil assistance program to its closest ally, Cuba. The shift signals an unraveling of the oil diplomacy pioneered by Venezuela's late socialist leader Hugo Chavez and helps explain why Cuba, which generates electricity from fuels,...

  • HOUSTON/ CARACAS, July 8- Venezuela's falling crude output and financial woes have left it struggling to maintain a 15- year-old oil assistance program to its closest ally, Cuba. The shift signals an unraveling of the oil diplomacy pioneered by Venezuela's late socialist leader Hugo Chavez and helps explain why Cuba, which generates electricity from fuels,...

  • CARACAS, July 6- Spanish agriculture company Grupo Agroinsumos Ibero-americanos and associated firms have filed an arbitration case against Venezuela via a World Bank tribunal, seeking compensation for the 2010 nationalization of its operations. The companies said they were filing under a bilateral investment treaty between Spain and Venezuela signed...

  • WASHINGTON, June 28- The U.S. Supreme Court on Tuesday agreed to weigh Venezuela's bid to block a lawsuit filed by an American oil drilling company that claims the South American country unlawfully seized 11 drilling rigs six years ago. The high court will review a May 2015 ruling by the U.S. Court of Appeals for the District of Columbia Circuit that allowed one of...

  • BUENOS AIRES, June 21- Venezuela has badly mismanaged its vast oil resources, a senior U.S. diplomat told Reuters in an interview on Tuesday in which he said a change in government could quickly turn the OPEC member's fortunes around. Tensions have been high between Washington and Venezuela, where the president is facing a possible recall referendum amid...

  • CARACAS/ HOUSTON, June 14- Venezuela is in talks with China to obtain a grace period in its oil-for-loans deal that would improve the OPEC nation's capacity to make bond payments amid an economic crisis, sources briefed on the proposal have told Reuters. Venezuela has borrowed over $50 billion from China under the financing arrangement created by late...

  • CARACAS/ HOUSTON, June 14- Venezuela is in talks with China to obtain a grace period in its oil-for-loans deal that would improve the OPEC nation's capacity to make bond payments amid an economic crisis, sources briefed on the proposal have told Reuters. Venezuela has borrowed over $50 billion from China under the financing arrangement created by late...

  • CARACAS, June 9- Venezuela is putting neighborhood committees linked to the ruling Socialist Party in charge of distributing basic foods amid increasingly violent unrest over chronic shortages that have battered the socialist government's popularity. But the country's opposition is slamming the plan as a discriminatory rationing system that will...

  • The figure is nearly three times the $1.2 billion Venezuela plans to spend on imports of pharmaceuticals this year as dire shortages of medicines from anti-itch skin cream to chemotherapy drugs hit home. The crisis has forced Venezuela to sharply curtail such imports, adding to hardship for millions of people already struggling with triple-digit...

  • CARACAS, May 20- A teenage protester reads the constitution to Venezuelan soldiers blocking a march. Amid the melee on the front line of the latest protest in Caracas, the young soldiers' faces remain impassive. Venezuela's opaque but powerful military- a key power-broker in past unrest- is under increasing scrutiny as socialist President Nicolas Maduro...

  • SAN CRISTOBAL, Venezuela, May 13- Mobs in Venezuela have stolen flour, chicken and even underwear this week as looting increases across the crisis-hit OPEC nation where many basic products have run short. But as more end up empty-handed and black market prices soar, plundering is rising in Venezuela, already one of the world's most violent countries.

  • CARACAS, May 4- Just over one in four Venezuelans approves of President Nicolas Maduro's governance as a crippling economic crisis weighs on the leftist leader, according to a leading pollster. While low compared with his charismatic mentor and predecessor, Hugo Chavez, Maduro's popularity remains above that of neighboring presidents including Colombia's...

  • CARACAS, April 30- Venezuela's President Nicolas Maduro on Saturday night increased the country's minimum wage 30 percent, amid rampant inflation that has destroyed purchasing power in the crisis-hit country. As of May 1, the minimum wage will jump to 15,051 bolivars per month- $1,505 at the strongest official exchange rate but just $13.50 at the black market...

  • CARACAS/ MARACAIBO, April 27- Venezuela's opposition began a signature drive on Wednesday seeking a referendum to remove President Nicolas Maduro as sporadic looting and protests over the economic crisis were reported. In Venezuela's second city Maracaibo, in the oil-producing western state of Zulia, authorities reported at least 30 small protests on...

  • CARACAS/ MARACAIBO, April 27- Venezuela's opposition began a signature drive on Wednesday seeking a referendum to remove President Nicolas Maduro as sporadic looting and protests over the economic crisis were reported. In Venezuela's second city Maracaibo, in the oil-producing western state of Zulia, authorities reported at least 30 small protests on...

  • CARACAS, April 26- Venezuela's elections council on Tuesday agreed to give opposition leaders a document allowing them to begin the process of seeking a referendum to remove President Nicolas Maduro, who is facing criticism over a deepening economic crisis. "Today we took a first step to begin the recall of Maduro," opposition deputy Elias Matta tweeted.