Venezuela’s economy and regional influence, along with its energy largesse, are drying up in the post-Hugo Chavez era.» Read More
CARACAS, Sept 10- Venezuela's annual inflation rate hit 45.4 percent in August, the central bank said on Tuesday, the highest for the OPEC nation in five years, even as consumer price increases slowed from the previous month.
HOUSTON/ CARACAS, Sept 10- Malaysian oil company Petronas said it is exiting one of the biggest petroleum projects in Venezuela's Orinoco belt, after what sources close to the venture and within the firm said were disagreements with Venezuelan authorities and state-run PDVSA.
CARACAS, Sept 9- Venezuela may relaunch its so-called "permuta" foreign exchange mechanism as it seeks to supply more dollars to local importers who are complaining about lack of access to hard currency, President Nicolas Maduro said on Monday. Venezuela has enough dollars for the economy to work. "
HOUSTON/ CARACAS, Sept 9- Malaysian oil company Petronas is exiting one of the biggest petroleum projects in Venezuela's Orinoco belt after disagreements with state-run PDVSA, sources close to the venture told Reuters. Its other partners are Spain's Repsol, India's ONGC and two small Indian firms.
CARACAS, Sept 8- An official investigation into a 2012 explosion at Venezuela's largest refinery Amuay has concluded sabotage was to blame for one of the global oil industry's deadliest accidents, the OPEC nation's oil minister said on Sunday.
*Chaos in Caracas during one of nation's worst outages. CARACAS, Sept 5- One of the worst power outages in Venezuelan history has given a jolt to President Nicolas Maduro's government and revived opposition accusations that its socialist policies and incompetence are wrecking the country.
HOUSTON/ CARACAS, Sept 4- Venezuela failed to act in good faith or properly compensate ConocoPhillips for three big oil assets the country expropriated in 2007, a World Bank arbitration panel said on Wednesday.
HOUSTON, Sept 4- A World Bank arbitration panel said on Wednesday that Venezuela failed to act in good faith or pay ConocoPhillips for three big oil assets the country seized in 2007..
CARACAS, Aug 18- Venezuelan politicians traded insults over the weekend with a showdown looming in the National Assembly over President Nicolas Maduro's plans to ask for fast-track decree powers he says he needs to combat corruption.
CARACAS, Aug 14- When even Venezuela's most famous topless model complains on Twitter that the government is too soft on corruption, it could be time for President Nicolas Maduro to sit up and take action.
CARACAS, Aug 13- Venezuelan President Nicolas Maduro unexpectedly named a new head of the country's central bank on Tuesday, appointing Eudomar Tovar to the job less than four months after installing a former commerce minister in the post.
CARACAS, July 16- Venezuelan legislators voted on Tuesday to raise the country's debt ceiling for this year by 65 percent in a move the government hopes will fuel economic activity after growth slowed sharply during the first quarter.
CARACAS, July 9- Venezuela's June inflation slowed from the previous month to 4.7 percent, the central bank said on Tuesday, but the annualized rate soared to 39.6 percent following a currency devaluation and heavy state spending last year.
MANAGUA, June 29- Delegations from over a dozen countries that are members of the Venezuelan-led oil alliance Petrocaribe agreed on Saturday to adopt a framework for promoting trade within the block.
QUITO, June 27- Ecuador's leftist government thumbed its nose at Washington on Thursday by renouncing U.S. trade benefits and offering to pay for human rights training in America in response to pressure over asylum for former intelligence contractor Edward Snowden.
QUITO, June 27- As it champions a young American wanted for leaking state secrets, Ecuador's government is facing opposition criticism for tightening media controls at home. President Rafael Correa is considering offering Edward Snowden asylum, a move that would likely prevent the U.S. from capturing him and set off a diplomatic firestorm.
NEW YORK, June 17- Standard& Poor's on Monday downgraded the sovereign foreign currency credit rating for Venezuela to B from B-plus, citing political turmoil as an impediment to enacting meaningful reforms in order to stop a slide in economic activity.
After Hugo Chavez's anointed heir secured a razor-thin victory in Venezuela's presidential election on Sunday, one analyst questioned how much longer Chavez's socialist policies will survive.
Nicolas Maduro squeezed out a small-margin victory in Venezuela's presidential elections Sunday, securing the ruling socialist party's control over the oil-rich nation through 2019.
James Lockhart-Smith, head of Latin America at Maplecroft, tells CNBC that the Venezuelan economy will continue to struggle after the elections.