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Politics Hugo Chavez

  • UNITED NATIONS, July 28- Venezuela's president Nicolas Maduro said he asked U.N. Secretary-General Ban Ki- moon for U.N. mediation in his country's century-old border dispute with neighboring Guyana. Guyana is a small former British colony of around 740,000 people on the northeast shoulder of South America.

  • CARACAS, July 8- Venezuela's request to review a $46 million compensation claim it has been ordered to pay to oil service company Tidewater was rejected and the stay on the award's execution lifted, a World Bank tribunal said in a decision posted on its website on Wednesday. The South American OPEC country had sought a revision "based on what it describes as an...

  • CARACAS, July 1- A World Bank tribunal has rejected Venezuela's request to recuse two arbitrators in a dispute with U.S. oil firm ConocoPhillips linked to the 2007 nationalization of the company's assets in the OPEC nation. The Oil Ministry said in March it asked the International Centre for Settlement of Investment Disputes to remove arbitrators Kenneth...

  • CARACAS, July 1- A World Bank tribunal has rejected Venezuela's request to recuse two arbitrators in a dispute with U.S. oil firm ConocoPhillips linked to the 2007 nationalization of the company's assets in the OPEC nation. The Oil Ministry said in March it asked the International Centre for Settlement of Investment Disputes to remove arbitrators Kenneth...

  • CARACAS, June 26- Venezuela has signed an agreement with Iran for a $500 million credit line to fund joint investments and help improve supplies of goods "necessary for the Venezuelan people," President Nicolas Maduro said on Friday. Mohammad Reza Nematzadeh, Iran's Minister of Industry, Mines and Trade, said through a translator during a broadcast on state...

  • CARACAS, June 22- Venezuela's parliamentary election will be held on Dec. 6, authorities announced on Monday, ending lengthy speculation over the date for a vote that surveys showed was likely to punish the ruling socialists. President Nicolas Maduro's ruling Socialist Party currently enjoys a majority in the 167- seat National Assembly, but an economic...

  • CARACAS, June 3- Dissenting and former members of Venezuela's ruling Socialist Party on Wednesday requested the government investigate alleged multi-billion dollar frauds they say have flourished under the South American OPEC country's strict currency controls. Marea Socialista, a small group of leftist intellectuals, as well as fringe members of the...

  • Maduro rules out dollarizing Venezuela's economy Wednesday, 27 May 2015 | 9:53 AM ET

    CARACAS, May 27- President Nicolas Maduro has ruled out dollarizing Venezuela's economy as a way to resolve the recession-hit OPEC nation's chaotic currency situation. Speculation Venezuela could adopt the U.S. currency emerged after news this month that some local divisions of foreign car companies might charge in dollars due to their difficulties in...

  • CARACAS, May 8- The Venezuela division of Ford Motor Co will begin selling vehicles only in dollars in the coming months, two sources familiar with the situation said on Friday, as currency controls leave the automaker unable to recover revenue from local sales. A lack of parts for assembly in April led Ford de Venezuela to halt operations as it was unable to obtain...

  • CALGARY, Alberta, May 7- Alberta's new left-leaning government, which sensationally ended the Conservative party's 44- year run in Canada's energy heartland this week, is undertaking a crash course that could be called: "Ruling for Rookies." The election victory by the New Democratic Party on Tuesday will deliver one of the most inexperienced parties ever to...

  • CARACAS, May 6- Venezuela is investigating whether drug companies including Germany's Merck KGaA and Bayer AG have improperly profited from subsidized foreign exchange amid growing medicine shortages, the country's health minister said. Those firms have received a favorable exchange rate through Venezuela's currency controls to produce or import...

  • CARACAS, April 22- Oil Minister Asdrubal Chavez led a Venezuelan delegation in Qatar for meetings with local officials on Wednesday following similar talks in Iran and Saudi Arabia on an OPEC tour seeking ways to boost crude prices, according to a government statement. So far unable to nudge Saudi Arabia and its Gulf allies into supporting supply cuts,...

  • *Current crude output at 2.85 mln bpd, says PDVSA head Del Pino. *Venezuela pins hopes on Orinoco Belt heavy-crude area. ORINOCO BELT, Venezuela, April 20- OPEC member Venezuela is currently exporting between 2.4-2.5 million barrels per day from national crude production of around 2.85 million, the head of state oil company PDVSA said.

  • Venezuela receives new $5 billion loan from China Monday, 20 Apr 2015 | 9:30 AM ET

    CARACAS, April 20- Venezuela has received a new $5 billion loan from China, President Nicolas Maduro said, part of an oil-for-loans deal that has become a key source of financing for the cash-strapped OPEC nation that is struggling with low crude prices. Under the arrangement created by late socialist leader Hugo Chavez, China provides funding for development...

  • ORINOCO OIL BELT, Venezuela, April 19- V enezuela's PDVSA is selling about $50 million a month at a new advantageous foreign exchange rate, while joint ventures with foreign partners are putting in a further $25- 30 million a month via the Simadi system, the state oil company's head said. The government created Simadi in February as a third tier in Venezuela's...

  • CARACAS, March 19- Venezuela will seek to reduce a $46 million compensation claim it has been ordered to pay to oil service company Tidewater in a case stemming from the 2009 seizure of vessels, its oil minister said in an interview published on Thursday. The lawyer representing Venezuela said the award was significantly lower than what Tidewater had claimed...

  • CARACAS, March 18- Venezuela asked a World Bank tribunal on Wednesday to toss out an order that it pay Swiss airport operator Flughafen Zurich AG and a Chilean partner around $36 million for the government takeover of airport facilities they operated in the country a decade ago. He said the request was filed with the World Bank's International Center for...

  • CARACAS, March 18- Venezuela asked a World Bank tribunal on Wednesday to toss out an order that it pay Swiss airport operator Flughafen Zurich AG and a Chilean partner nearly $36 million for the government takeover of airport facilities they operated in the country a decade ago. He said the request was filed with the World Bank's International Center for...

  • CARACAS, March 16- Venezuela's government has told the country's food industry that it is limiting dollar disbursements for food imports so that it can pay down foreign debt amid low oil prices, according to two sources with direct knowledge of the situation. At the same time, concerns Venezuela could default on foreign debt have pushed its yields to the second...

  • CARACAS, March 15- Venezuela's parliament granted President Nicolas Maduro decree powers on Sunday for the rest of 2015 in a move he says is to defend the country from U.S. meddling but opponents decry as evidence of autocracy. In a noisy National Assembly session, ruling Socialist Party legislators, who have a majority, applauded the "Enabling Law" as a legitimate...