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Business Venezuela

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  • Oil rally's winners and losers, country by country Tuesday, 12 May 2015 | 12:05 PM ET
    Oil fracking

    The recent rally in oil has forecasters tweaking their models to see what a sustained price recovery might look like.

  • A scary Venezuelan lesson for the U.S. Thursday, 7 May 2015 | 3:25 PM ET
    People line up to buy hygiene products at a drugstore in Caracas, Venezuela, Feb. 3, 2015.

    Venezuela's government has made every socialist mistake, and now its people may starve.

  • CARACAS, May 6- Venezuela is investigating whether drug companies including Germany's Merck KGaA and Bayer AG have improperly profited from subsidized foreign exchange amid growing medicine shortages, the country's health minister said. Those firms have received a favorable exchange rate through Venezuela's currency controls to produce or import...

  • The places close to USA where China is winning Wednesday, 6 May 2015 | 1:34 PM ET
    China's President Xi Jinping, left, is welcomed by his Brazilian counterpart Dilma Rousseff at Planalto Palace on July 17, 2014 in Brasilia.

    "The Chinese government hopes to develop itself on par with (the United States), Europe and Russia as an international leader," says one expert.

  • Cramer: Quit crying! This group's ready for buying Friday, 1 May 2015 | 6:29 PM ET
    Wholesale

    Jim Cramer has had enough crying about the economy. This group just bottomed, and is ripe for buying.

  • April 29- General Motors Co said it is likely it will cease vehicle production in Venezuela in July as the automaker joins other U.S. corporations in taking action to shield their profits from the South American country's volatile currency. GM has one plant in Venezuela, in Valencia, where it builds the Chevrolet Aveo and Cruze cars, the Orlando crossover vehicle...

  • Why the US won't have OPEC to kick around in 2016 Monday, 27 Apr 2015 | 6:36 AM ET
    The oil ministers of Qatar, Saudi Arabia and the United Arab Emirates attend the opening session of the Arab Energy Conference in Abu Dhabi.

    U.S. elections have long featured a familiar whipping post. Yet thanks to the energy boom, it's one that may not play a role in 2016.

  • HOUSTON/ NEW YORK, April 24- Venezuela, struggling to pay for essential items such as food and medicine amid strict foreign currency controls, may have failed to collect about a third of its potential oil revenue in 2014, a Reuters analysis suggests. An exact figure for both realized and deprived revenues is unavailable given the absence of specific data from...

  • ORINOCO BELT, Venezuela, April 19- Venezuela has launched talks this month on a novel plan to blend the country's heavy crude with light oil from other OPEC allies, seeking to create a new variety that can compete against swelling U.S. and Canadian supplies. Del Pino said he raised the idea during the Summit of the Americas in Panama earlier this month and at a...

  • *Major court decisions expected this year- Gold Reserve. CARACAS, April 16-- Gold Reserve Inc, a small Canadian miner that lost its crown jewel in a 2009 expropriation, is targeting Venezuelan assets as it seeks to collect a $750 million arbitration award that would put new strains on the cash-strapped government's finances. With higher-profile cases including...

  • And Venezuela's oil minister Asdrubal Chavez met in Caracas with the local ambassadors of eight OPEC members plus Indonesia on Wednesday, the ministry said. Nearly four months of sub- $60 a barrel crude oil prices is weighing heavily on cash-strapped producers such as Venezuela and Russia, who failed to coax OPEC into cutting output last November.

  • CARACAS, April 15- Venezuela said ambassadors of various OPEC countries, including Saudi Arabia, were meeting the country's oil minister Asdrubal Chavez in Caracas on Wednesday. "Ambassadors of Saudi Arabia, Algeria, Ecuador, Iraq, Kuwait, Nigeria, Qatar, Iran and Indonesia are present," the Oil Ministry said in a tweet. The Oil Ministry's twitter feed said the group...

  • CARACAS, April 14- Venezuela's state oil company PDVSA has offered to buy oil and gas producer Harvest Natural Resources Inc's stake in the Petrodelta joint venture, a source close to PDVSA said on Tuesday. The company has twice been poised to sell its minority stake but said the OPEC country blocked the transaction. In 2013 a deal with Indonesia's oil company...

  • CARACAS, April 10- Venezuela's flavorful cocoa, coveted centuries ago by pirates and now a darling of specialty producers, will not be enriching foreign chocolate bars any time soon. "They're ruining the reputation of Venezuela as a cocoa exporter," said group President Alejandro Prosperi. Still, the holdup highlights the risks for businesses in highly...

  • KINGSTON, April 9- President Barack Obama on Thursday unveiled a major clean energy partnership at a Caribbean summit where he sought to reassert U.S. leadership in the region at a time when oil-producing Venezuela's economic clout appears to be receding. The review is being studied by the White House, and a green light for Havana's removal would open the door to...

  • Brazil to Mexico: Latin America's image problem Wednesday, 8 Apr 2015 | 10:56 AM ET
    Dilma Rousseff, president of Brazil

    Leaders in Brazil, Mexico, Venezuela, Chile and elsewhere in Latin America are facing a choice: Clean up — or they'll be out.

  • Cramer: Oil patch is ready for buyers again Wednesday, 1 Apr 2015 | 6:32 PM ET
    oil crude gas

    Jim Cramer makes a call for investors to snap up these stocks in the oil patch. The positives cannot be ignored!

  • Gotta be brave to set up shop in these places Tuesday, 31 Mar 2015 | 12:01 AM ET
    People attend Dutch National Tulip Day in front of the Royal Palace at Dam Square, in Amsterdam, Netherlands.

    Businesses can lower risk to their supply chains by setting up shop in these countries, a study says.

  • Things that will happen if Venezuela implodes Wednesday, 25 Mar 2015 | 2:57 PM ET
    A bank note with the face of Venezuela's President Nicolas Maduro and the word "devaluated" at a market in Caracas.

    Venezuela is on the brink, and the country's debtholders, trade partners and neighbors are bracing for the fallout.

  • Why energy investors are looking at the Caribbean Friday, 20 Mar 2015 | 3:48 PM ET
    Tourists look at posters for sale in Havana, Cuba, on December 18, 2014.

    Declining oil prices, the U.S. energy revolution and changing relations with Cuba have created new opportunities for energy investment in the Caribbean.