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Venezuela

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  • Chávez Allows West to Make Oil Bids as Prices Plunge Thursday, 15 Jan 2009 | 10:16 AM ET
    Hugo Chavez

    President Hugo Chávez, buffeted by falling oil prices that threaten to damage his efforts to establish a Socialist-inspired state, is quietly courting Western oil companies once again, the New York Times reports.

  • Chavez Says Will Seize Gold Concessions as Oil Falls Monday, 29 Dec 2008 | 1:21 PM ET
    Hugo Chavez

    Venezuela will seize several gold mining concessions that previous governments granted private operators, in a bid to supplement falling oil prices with proceeds from state-controlled gold, President Hugo Chavez said Saturday.

  • Venezuela State Oil Company Loses Credit Line Friday, 17 Oct 2008 | 6:35 PM ET
    Hugo Chavez

    Venezuela's state run oil company, PDVSA, is urgently searching for replacement financing after losing a line of credit of more than $5 billion from the Royal Bank of Scotland, CNBC has learned.

  • Venezuela Shuts Down Nearly All McDonald's Friday, 10 Oct 2008 | 4:48 PM ET

    The Venezuelan government has ordered nearly all McDonald's restaurants in the country closed for 48 hours for what it calls irregularities in the fast-food chain's financial books.

  • Venezuela's Chavez Presses 'Alliance' with Russia Thursday, 25 Sep 2008 | 12:54 PM ET
    Hugo Chavez

    Venezuelan President Hugo Chavez was due in Moscow on Thursday, his second visit within months as Russia increases its ties with the U.S. foe after fighting a war against American-allied Georgia.

  • Hugo Chavez Takes Aim at Spanish Bank Friday, 1 Aug 2008 | 4:59 AM ET

    Venezuela's President Hugo Chavez has added a large Spanish-owned bank to the list of companies to be run by the government in the oil-exporting nation, furthering his plans of building a socialist state.

  • Venezuela's Chavez Says Oil Could Reach $300 Monday, 14 Jul 2008 | 4:16 AM ET

    Venezuelan President Hugo Chavez said on Sunday oil prices could hit $300 per barrel if U.S. oil company Exxon Mobil again freezes Venezuelan assets in a dispute over a nationalized oil project.

  • Venezuelan Oil: More Going to China, Less to US Monday, 30 Jun 2008 | 4:18 PM ET
    Hugo Chavez

    U.S. imports of Venezuelan oil fell 11.7 percent during the first four months of the year compared to the same period in 2007, the U.S. government said Monday.

  • Chavez May Stop Oil to Europe Over Immigrant Law Friday, 20 Jun 2008 | 11:46 AM ET
    Pres. Hugo Chavez of Venezuela

    Venezuelan President Hugo Chavez Thursday threatened to stop selling oil to European countries if they apply a new ruling on illegal immigrants that is criticized in Latin America and by human rights groups.

  • Venezuela Will Not Attend Saudi Oil Meeting Thursday, 19 Jun 2008 | 4:15 AM ET

    Venezuela will not attend a meeting of oil consumers and producers this coming weekend and sees no need to up output, the country's oil minister said on Wednesday.

  • Portfolio Need Some Spice? Brazil's Market Is Red Hot Monday, 28 Apr 2008 | 11:32 AM ET

    Brazil's strong growth-- fueled by red-hot commodities exports and a strong domestic demand-- offers investors a growing range of options.

  • Venezuela Wants to Boot Exxon from Louisiana Refinery Wednesday, 9 Apr 2008 | 2:59 PM ET

    Venezuela is seeking to remove Exxon Mobil as the operator of its joint-venture refinery in Chalmette, Louisiana, Oil Minister Rafael Ramirez said Wednesday.

  • Hugo Chavez Nationalizes Cement Industry Friday, 4 Apr 2008 | 4:18 AM ET

    President Hugo Chavez Thursday announced the immediate nationalization of Venezuela's cement industry, a move that will hit Mexico's Cemex, just a year after Chavez launched a wave of state takeovers.

  • Hugo Chavez Plans Tax on Oil Sales Above $70 a Barrel Thursday, 3 Apr 2008 | 11:54 AM ET
    Venezuela, Venezuelan Flag

    Venezuela is preparing a "windfall" oil tax to boost the OPEC nation's revenues from record crude prices, only months after leftist President Hugo Chavez's nationalization crusade forced out two of the world's largest energy companies

  • Venezuela's Chavez: We Don't Want Pricier Oil Thursday, 27 Mar 2008 | 4:58 PM ET

    Venezuela is not interested in seeing oil prices rise further and is pushing to stabilize the market, President Hugo Chavez said after visiting the site of a Brazilian refinery being built to process Venezuelan crude.

  • Court Reverses Exxon Freeze on Venezuela Assets Tuesday, 18 Mar 2008 | 11:37 AM ET
    Venezuela, Venezuelan Flag

    A British judge has lifted a $12 billion freeze on Venezuelan assets awarded to U.S. oil major Exxon Mobil in a spat over a seized oil project.

  • Oil Settles at Record Near $109 a Barrel Tuesday, 11 Mar 2008 | 2:31 PM ET
    Oil Refinery in California

    U.S. crude oil futures settled at another record in volatile, choppy trading, as technical strength combined with skepticism about the dollar's long-term prospects after the Federal Reserve's liquidity action.

  • Oil Closes at Record High on US Dollar Worries Monday, 10 Mar 2008 | 3:02 PM ET

    Oil shot up almost $3 a barrel Monday to a closing record of $107.90, extending a rally led by investors seeking a hedge against the tumbling U.S. dollar and inflation.

  • Oil Hits Record above $106 on Dollar Weakness Friday, 7 Mar 2008 | 1:33 PM ET
    Oil Refinery in California

    Oil prices hit a new record high as a weak dollar outweighed concerns of a recession in the United States that had been triggered by an unexpected drop in U.S. jobs data earlier in the day.

  • Oil Ends at Record Above $105 on Weak Dollar Thursday, 6 Mar 2008 | 3:35 PM ET
    Oil Refinery in California

    Crude oil futures rose to another record close Thursday, boosted once more by the dollar's continuing slide to new lows against the euro.