Business Venezuela

  • CARACAS, Sept 22- Venezuelan state oil company PDVSA on Thursday said its lease of Curacao's Isla refinery was not up for negotiations yet, days after the island announced a preliminary deal with China's Guangdong Zhenrong Energy to operate the complex. Curacao's government said on Monday it has signed a preliminary agreement with Guangdong Zhenrong Energy...

  • Venezuela's $3.2B oil deal

    Anatoly Kurmanaev, Wall Street Journal, discusses chaos in Venezuela surrounding the country's massive new oil drilling project.

  • CARACAS/ HOUSTON, Sept 21- Venezuela's state oil company PDVSA said on Wednesday it has awarded $3.2 billion in contracts to drill wells in the Orinoco Belt, although sources close to the matter said some foreign partners are uncomfortable with the rushed tender and structural problems that could hinder projects. The projects are designed to add 250,000...

  • CARACAS/ HOUSTON, Sept 21- Venezuela's state oil company PDVSA said on Wednesday it has awarded $3.2 billion in contracts to drill wells in the Orinoco Belt, although some foreign partners are uncomfortable with the rushed tender and structural problems that could hinder the projects, according to sources close to the matter. The major projects are designed to...

  • CARACAS, Sept 21- Venezuela's state oil company PDVSA has awarded $3.2 billion in contracts to drill wells in the Orinoco Belt with the aim of increasing production by 250,000 barrels per day in the next 30 months, the Caracas- based company said in a statement on Wednesday.

  • CARACAS, Sept 20- The president of Venezuelan state oil company PDVSA on Tuesday slammed ratings agencies as "professional speculators" who were contributing to a negative reception of a $7.1 billion bond swap proposal meant to improve the company's finances. "Speculators are trying to generate a climate of tension so that will get rid of their bonds at a lower...

  • CARACAS, Sept 20- A deal between OPEC and non- OPEC producer countries would push up oil prices by $10 to $15 per barrel, Venezuela's Oil Minister Eulogio Del Pino said on Tuesday, as the South American country pushes for an agreement to stabilize markets. OPEC and non-member producers including Russia are discussing a deal by at least freezing output, although key...

  • Oil prices are in the red after the country's oil minister said global supplies must drop by at least 9-million barrels to match consumption.

  • Oil at $40 on the way down: John Kilduff

    John Kilduff, Again Capital Partners, weighs in on OPEC and Venezuela oil expectations and shares his outlook on oil prices.

  • CARACAS, Sept 16- Venezuela's opposition failed to draw large numbers on Friday in its latest protests against President Nicolas Maduro, and the national election board delayed a decision on the next stage of a possible referendum on his socialist rule. Venezuela's 30 million people are suffering shortages, triple-digit inflation and a third year of...

  • CARACAS, Sept 16- Venezuela's opposition failed to draw large numbers on Friday in its latest protests against President Nicolas Maduro, and the national election board delayed a decision on the next stage of a possible referendum on his socialist rule. Opposition leader Henry Ramos said given the last-minute call for protests and that people were facing a "...

  • A Venezuela resident carries food in plastic bags in the Catia neighborhood on the outskirts of Caracas, Venezuela

    The humanitarian crisis in Venezuela has forced many Venezuelans to call on family in the U.S. for help in finding food.

  • CARACAS, Sept 14- Venezuela on Wednesday decried a decision that could see it suspended from the Mercosur trade bloc as the crisis-stricken leftist country grows increasingly isolated in South America. The founding members of Mercosur will give Venezuela until Dec. 1 to meet its membership requirements or be suspended from the bloc, said the Foreign Ministry...

  • Venezuela to offer bond swap

    CNBC's Michelle Caruso-Cabrera reports on Venezuela's debt debacle and when the upcoming debt payments are due.

  • CARACAS, Sept 13- Venezuelan state oil company PDVSA is preparing a bond swap that would allow investors to trade bonds maturing in 2017 for a new issue maturing in 2020, PDVSA President Eulogio Del Pino said in televised comments on Tuesday.

  • An engineer opens valves on the Petroleos Mexicanos (PEMEX) Bicentennial deep sea crude oil platform in the waters off Tamaulipas, Mexico.

    As oil-exporting countries continue to navigate stubbornly weak crude prices, Mexico is trying to get ahead of the game by hedging its oil bets.

  • People pass by a beggar in St. Petersburg, Russia.

    Donald Trump likes to praise the Russian leader's strength, but that strength hasn't done much that's good for Russia's economy.

  • Oil is headed back to the $30s, says trader Anthony Grisanti. Here's why he thinks the recent rally won't hold.

  • LONDON, Sept 7- Algeria is sending crude oil to Cuba for the first time to help offset lower supplies from the island's closest ally, Venezuela, where low prices have caused the steepest production decline in more than a decade, sources with direct knowledge said on Wednesday. The cargo would be the OPEC member's first crude delivery to Cuba, sources who monitor its...

  • LONDON, Sept 7- Algeria is sending crude to Cuba for the first time to help offset lower supplies from Venezuela, hit by production problems due to low oil prices, sources with direct knowledge said. The cargo would be the OPEC member's first crude delivery to Cuba, sources who monitor its exports said. Cuba relies almost exclusively on Venezuela, also an OPEC member,...