Business Venezuela

More

  • BOSTON, July 27- U.S. companies operating in Venezuela have escalated the use of an accounting maneuver to insulate themselves from a worsening economic crisis in the South American country that has erased more than $10 billion in profits over the past 18 months. Deconsolidation means that Venezuela operations can largely no longer hurt or benefit a U.S....

  • CARACAS/ BOGOTA, July 26- Even for Venezuela's notoriously opaque economy, it was a sweetheart deal that went too far. Last August, state oil company Petroleos de Venezuela SA issued one of its largest tenders in recent years: a multi-billion dollar project in the Orinoco Belt, the world's largest crude reserve. Trenaco, headquartered in Switzerland but largely...

  • CARACAS, Venezuela— Venezuela is getting some financial relief as it burns through foreign reserves to pay for imports of badly needed food and medicine. On Monday, the Latin American Reserve Fund said it approved a three-year-loan of $482 million for Venezuela* s central bank. But the Colombia- based multilateral lender, which was created by regional...

  • MILAN, July 21- The United States will ship its first liquefied natural gas cargo through an expanded Panama Canal next week. A day later BP Plc's British Merchant will begin passing through the Panama Canal also carrying cargo from the United States to Manzanillo on Mexico's Pacific coast, Kpler LNG said. The Panama Canal Authority confirmed the Maran Gas...

  • July 21- Confidence in prospects for the global economy has been dented following Britain's vote to leave the European Union, with a growing view that monetary policy is a fading force and many governments now need to borrow and spend, Reuters polls showed. "Given how fragile the global economy is nearly eight years after the start of the global financial crisis,...

  • Oil crude oil

    Colombia's oil-reliant economy appears to be navigating global uncertainty that has hammered places like Venezuela and Brazil.

  • Venezuelan soldiers participate in a parade to celebrate the 195th anniversary of the Battle of Carabobo in Caracas, June 24, 2016.

    As his country's economy implodes around him, Venezuelan strongman Nicolas Maduro has resorted to what may be a last-ditch effort to stay in power.

  • HOUSTON/ CARACAS, July 8- Venezuela's falling crude output and financial woes have left it struggling to maintain a 15- year-old oil assistance program to its closest ally, Cuba. The shift signals an unraveling of the oil diplomacy pioneered by Venezuela's late socialist leader Hugo Chavez and helps explain why Cuba, which generates electricity from fuels,...

  • HOUSTON/ CARACAS, July 8- Venezuela's falling crude output and financial woes have left it struggling to maintain a 15- year-old oil assistance program to its closest ally, Cuba. The shift signals an unraveling of the oil diplomacy pioneered by Venezuela's late socialist leader Hugo Chavez and helps explain why Cuba, which generates electricity from fuels,...

  • He, along with former presidents Martin Torrijos of Panama and Leonel Fernandez of the Dominican Republic, are trying to facilitate talks between the government and the opposition. Given the diametrically opposed views of each side in Venezuela, internationally mediated talks outside Caracas could help address their differences, Shannon said.

  • He, along with former presidents Martin Torrijos of Panama and Leonel Fernandez of the Dominican Republic, are trying to facilitate talks between the government and the opposition. Given the diametrically opposed views of each side in Venezuela, internationally mediated talks outside Caracas could help address their differences, Shannon said.

  • Given the diametrically opposed views of each side in Venezuela, internationally mediated talks outside Caracas could help address their differences, Shannon said. "The hope that this can be used not only to address political differences but also to create a platform from which both the government and the opposition can ask for help from the international...

  • Given the diametrically opposed views of each side in Venezuela, internationally mediated talks outside Caracas could help address their differences, Shannon said. "The hope that this can be used not only to address political differences but also to create a platform from which both the government and the opposition can ask for help from the international...

  • WASHINGTON, June 24- Dialogue between the Venezuelan government and opposition could provide a platform from which they could request help from the international community, U.S. Under Secretary of State for Political Affairs Tom Shannon said on Friday. Shannon, a veteran U.S. diplomat who led talks with Venezuelan officials in Caracas, said there was no date...

  • WASHINGTON, June 24- Dialog between the Venezuelan government and opposition could provide a platform from which they could request help from the international community, U.S. Under Secretary of State for Political Affairs Tom Shannon said on Friday. Shannon, a veteran U.S. diplomat who led talks with Venezuelan officials in Caracas, said there was no date set...

  • CARACAS, June 22- Citgo Petroleum, the U.S. unit of Venezuela's PDVSA, will likely invest about $400 million to $600 million to overhaul Aruba's refinery under a 25- year lease with the Caribbean island's government, a top PDVSA official said on Wednesday. "We're eyeing investments in the refinery that would be more or less between $400 and $600 million," Jesus...

  • Gas flare from an offshore oil rig platform.

    That gap in price forecasts is important. If an investor believes oil prices will peak next year, the case for buying into energy stocks becomes more urgent.

  • BUENOS AIRES, June 21- Venezuela has badly mismanaged its vast oil resources, a senior U.S. diplomat told Reuters in an interview on Tuesday in which he said a change in government could quickly turn the OPEC member's fortunes around. Tensions have been high between Washington and Venezuela, where the president is facing a possible recall referendum amid...

  • Venezuela grapples with food shortages

    An alarming number of Venezuelans say they do not have money to buy enough food, according to the most recent assessment of living standards by Simón Bolívar University.

  • Police keep guard as people line up to buy groceries in a supermarket at Catia neighborhood in Caracas, on June 11, 2016.

    With delivery trucks under constant attack, the nation's food is now transported under armed guard. Venezuela is convulsing from hunger.