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Business Venezuela


  • BEIJING/ MOSCOW, Sept 3- Russia and Venezuela need to combine efforts to lift oil prices, President Vladimir Putin told his Venezuelan counterpart Nicolas Maduro on Thursday, but refused to spell out any specific action, including output cuts. The economies of the two major producers are highly dependent on proceeds from the sale of oil, the price of which has...

  • CARACAS, Sept 1- Venezuela and China have signed a deal for a $5 billion loan designed to increase the OPEC country's oil production, Venezuelan President Nicolas Maduro said. A source at Venezuelan state-run oil company PDVSA told Reuters in March that China was set to extend a "special" $5 billion loan that would likely stipulate hiring Chinese companies to...

  • BEIJING, Sept 1- Chinese President Xi Jinping told visiting Venezuelan President Nicolas Maduro on Tuesday that China was willing to look at new areas of financial cooperation, but state media made no mention of specifics. China was also willing to help Venezuela raise its manufacturing ability, Xi added. Venezuela has borrowed $50 billion from China through...

  • PUNTO FIJO, Venezuela, Aug 31- A gas treatment plant of PDVSA on the western coast of Venezuela was hit by an explosion on Monday evening though there were no injuries, the state oil company said. The plant, located in the Tiguadare sector of Punto Fijo, in the state of Falcon, processes gas extracted from the Cardon IV block, a field in the vast Perla reservoir, operated...

  • CARACAS, Aug 31- The decline in oil prices has forced Venezuela to place smaller medicine orders and buy cheaper drugs, a state health provider said on Monday, as patient complaints over shortages mount. We're working with tighter inventories but guaranteeing the medicine is here in the country, "said Carlos Rotondaro, a general who has run the Venezuelan...

  • CARACAS, Aug 28- Venezuelan President Nicolas Maduro on Friday said he will visit China and Vietnam to sign economic and financing deals, as the OPEC nation struggles to make ends meet at a time of low oil prices. "I leave tomorrow for Vietnam and China to seal agreements for the economic and financial security of Venezuela, and to seek support in these difficult...

  • 3 charts show how oil is roiling world currencies Tuesday, 25 Aug 2015 | 11:35 AM ET
    Saudi Arabian riyals

    The falling price of oil has a direct effect on the real exchange rate of nations most dependent on petroleum production.

  • Warning signs: Venezuela, Brazil & Russia Tuesday, 18 Aug 2015 | 2:05 PM ET
    Warning signs: Venezuela, Brazil & Russia

    Discussing global growth problems for Venezuela, Brazil and Russia, with Kathryn Rooney Vera, Bulltick Capital Markets, and Tim Seymour, Triogem Asset Management.

  • Could the oil slump push this country to default? Tuesday, 18 Aug 2015 | 12:00 AM ET
    Oil workers conduct a drill in a petroleum well in Lagunillas at the east coast of Lake Maracaibo near Maracaibo City in Venezuela.

    Oil-dependent Venezuela could become the first sovereign victim of plummeting energy prices. CNBC looks at why.

  • CARACAS, Aug 6- Chinese construction machinery maker Sany Heavy Industry Co Ltd is willing to help Venezuela and state oil company PDVSA sell bonds in China and in Asia, Sany chairman Liang Wengen said during a visit to Caracas on Thursday. Sany provides construction equipment to Venezuela through a bilateral oil-for-loans financing scheme under which...

  • Headhunters woo low-cost Venezuela talent amid crisis Wednesday, 5 Aug 2015 | 11:45 AM ET

    CARACAS, Aug 5- Headhunters across Latin America are tapping Venezuela for low-cost professionals as a deepening economic crisis has left many skilled workers earning less money than taxi drivers and waiters. The crisis has created a fertile market for global search firms including Korn/Ferry, Caldwell Partners and Stanton Chase as well as smaller...

  • Oil dip triggers global trouble spots Tuesday, 4 Aug 2015 | 6:22 AM ET
    Oil dip triggers global trouble spots

    Helima Croft, RBC Capital Markets, discusses how cheap crude prices are impacting oil-focused economies and whether prices are headed lower from here.

  • Venezuela's strife deepens as dozens arrested Sunday, 2 Aug 2015 | 5:02 PM ET
    A bank note with the face of Venezuela's President Nicolas Maduro and the word "devaluated" at a market in Caracas.

    Venezuela's civil strife appeared to deepen over the weekend, with at least one man killed and 60 others arrested during riots, local media reported.

  • QUITO, July 31- Ecuador's state oil company Petroecuador has signed a crude oil supply agreement with a division of Thailand's state-run PTT under which the Andean country will receive a $2.5 billion up-front payment, according to a statement from the company. Petroecuador International Trade Manager Nilsen Arias confirmed the deal to Ecuador's El...

  • Venezuela troops occupy Polar, Nestle food warehouses Thursday, 30 Jul 2015 | 10:12 PM ET
    A bank note with the face of Venezuela's President Nicolas Maduro and the word "devaluated" at a market in Caracas.

    Venezuelan troops occupied warehouses used by Empresas Polar and Nestle to distribute food and beverages, workers and company officials said.

  • UNITED NATIONS, July 28- Venezuela's president Nicolas Maduro said he asked U.N. Secretary-General Ban Ki- moon for U.N. mediation in his country's century-old border dispute with neighboring Guyana. Guyana is a small former British colony of around 740,000 people on the northeast shoulder of South America.

  • CARACAS, July 13- American Airlines said on Monday it would restart its Caracas- New York route as of Dec. 17, though it added that it had not repatriated more than half a billion dollars in revenue trapped in Venezuela as a result of currency controls. American Airlines, which slashed almost 80 percent of its weekly flights to Venezuela last year over the dispute,...

  • CARACAS, July 3- Venezuela's unofficial exchange rate broke through 500 bolivars per dollar on Friday, according to a widely used website, as the socialist-run country's currency control system struggles to meet keen demand for greenbacks. "As long as they don't make the adjustments the economy needs, the rate will continue to increase," said Asdrubal Oliveros...

  • Cramer Remix: These oil stocks look cheap Thursday, 25 Jun 2015 | 7:26 PM ET
    Jim Cramer

    Looking for an oil stock to buy? “Mad Money” host Jim Cramer may have something for you.

  • Cramer—Greece is about to become the next Venezuela Thursday, 25 Jun 2015 | 6:12 PM ET
    A European Union and a Greek national flag flutter in front of the Parthenon temple in Athens February 11, 2015.

    Jim Cramer speculates that Greece will become the next Venezuela...without oil.