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Business Venezuela

  • OPEC President Qatar's Energy Minister Mohammed bin Saleh al-Sada and OPEC Secretary General Mohammad Barkindo address a news conference after a meeting of the Organization of the Petroleum Exporting Countries (OPEC) in Vienna, Austria, November 30, 2016.

    "The market will decide" whether OPEC will extend an output cut, Iraq's oil minister said at a meeting in Kuwait.

  • loomed@ HOUSTON/ CARACAS, March 24- A gasoline shortage in OPEC member Venezuela was exacerbated by an increase in government-sanctioned fuel exports to foreign allies and an exodus of crucial personnel from state-run energy company PDVSA, according to internal PDVSA documents and sources familiar with its operations. Leftist-run Venezuela sells its...

  • MEXICO CITY/ WASHINGTON, March 23- A group of 14 nations urged Venezuela on Thursday to hold elections and release "political prisoners," in a joint statement that kept open the option of seeking to suspend the South American country from the Organization of American States. The statement, which Mexico's Foreign Minister Luis Videgaray said was aimed at...

  • MEXICO CITY/ WASHINGTON, March 23- A group of 14 nations on Thursday urged Venezuela to hold elections and release "political prisoners," in a joint statement that kept open the option of seeking to suspend the South American country from the Organization of American States. The statement, which Mexico's Foreign Minister Luis Videgaray said was aimed at...

  • MEXICO CITY, March 23- A group of 14 nations on Thursday urged Venezuela to hold elections and release political prisoners, in a joint statement that kept open the option of seeking to suspend the South American country from the Organization of American States. The statement, which Mexico's Foreign Minister Luis Videgaray earlier in the day described as aimed...

  • CARACAS, Venezuela— Residents of Venezuela's capital awoke to long lines of cars at gas stations amid rumors that fuel supplies in the nation with the world's largest oil reserves are running out. Dozens of cars were lined up at gas stations around Caracas on Thursday morning in a fuel shortage officials are attributing to transportation delays.

  • CARACAS/ PUNTO FIJO, Venezuela, March 22- G rumbling Venezuelans were lining up for scarce gasoline across the OPEC nation on Wednesday, due to mounting oil industry woes in the country with the world's largest crude reserves. Venezuela, which also has the world's cheapest gasoline, has wrestled with intermittent gasoline shortages in recent months, especially...

  • CARACAS/ PUNTO FIJO, Venezuela, March 22- G rumbling Venezuelans were lining up for scarce gasoline across the OPEC nation on Wednesday, due to mounting oil industry woes in the country with the world's largest crude reserves. Venezuela, which also has the world's cheapest gasoline, has wrestled with intermittent gasoline shortages in recent months, especially...

  • CARACAS, March 21- Venezuela has stopped publishing money supply data, depriving the public of the best available tool to ascertain soaring inflation in one of the world's worst-performing economies. In contrast, neighboring Colombia's M2 was up 7 percent in the same period and the United States' was up 6 percent. "If they are not publishing, you know it must be...

  • CARACAS, Venezuela— For the past 25 years, after he immigrated penniless to Venezuela from Portugal, Eduardo Dos Santos has personally taken care of the loyal clients at Mansion's Bakery. But now the downtown Caracas corner store is in the hands of die-hard socialists, and Dos Santos is at least temporarily out of a job, as a result of the latest attempt by the...

  • CARACAS, March 20- Venezuela has charged the presidents of two subcontractors with corruption for overbilling in equipment sales at the OPEC country's main oil-exporting port, the public prosecutor's office said on Monday. The presidents of Venezuela- based Castillo Max and Guevara Training, Miguel Castillo and Hernan Guevara respectively, have been...

  • Oil workers conduct a drill in a petroleum well in Lagunillas at the east coast of Lake Maracaibo near Maracaibo City in Venezuela.

    Months after a deal to curb production, oil looks flat and cash-hungry crude producers are struggling to manage the fallout.

  • OPEC President Qatar's Energy Minister Mohammed bin Saleh al-Sada and OPEC Secretary General Mohammad Barkindo address a news conference after a meeting of the Organization of the Petroleum Exporting Countries (OPEC) in Vienna, Austria, November 30, 2016.

    Eleven non-OPEC oil producers that joined a global deal to reduce output to boost prices delivered 64 percent of promised cuts in February.

  • Chocolate brownie display

    The Venezuelan government has threatened to take over bakeries which don’t comply with bread laws imposed to tackle food shortages.

  • CARACAS, March 14- The head of the Organization of American States on Tuesday said that crisis-wrought Venezuela should be suspended from the regional diplomatic body if it does not hold general elections "as quickly as possible." Luis Almagro, secretary general of the OAS and a former foreign minister of Uruguay, stressed that elections are key to allowing...

  • CARACAS, March 14- The head of the Organization of American States on Tuesday said that crisis-wrought Venezuela should be suspended from the regional diplomatic body if it does not hold general elections "as quickly as possible." Luis Almagro, secretary general of the OAS and a former foreign minister of Uruguay, stressed that elections are key to allowing...

  • CARACAS/ HOUSTON/ NEW DELHI, March 8- Venezuela's state-run oil company, PDVSA, has spent at least a decade trying to build business ties and boost shipments to refineries in India, where crowds once welcomed the late socialist leader Hugo Chavez with cries of "Viva!" Venezuela has given up the fight for coveted market share in India because of a combination of...

  • QUITO, Feb 20- Ecuador's leftist government candidate Lenin Moreno looked set for victory on Monday in a presidential election, but slow results meant it may take days to know if he will face a runoff with former banker Guillermo Lasso. While Ecuadoreans are angry over an economic downturn and corruption scandals, the opposition split its votes among...

  • QUITO, Feb 20- Ecuador's leftist government candidate Lenin Moreno looked set for victory on Monday in a presidential election, but slow results meant it may take days to know if he will face a runoff with former banker Guillermo Lasso. While Ecuadoreans are angry over an economic downturn and corruption scandals, the opposition split its votes among...

  • QUITO, Feb 20- Ecuadorean leftist government candidate Lenin Moreno looked set for victory in a presidential election but results still coming in on Monday meant he may face a runoff with former banker Guillermo Lasso. While Ecuadoreans are angry over an economic downturn and corruption scandals, the opposition split its votes among candidates and the...