Business Venezuela

  • An employee looks out over the illuminated petroleum cracking complex at an oil refinery operated by OAO Lukoil, in Nizhny Novgorod, Russia.

    The oil crash of 2014-2015 may trigger a wave of democratization in crude-exporting countries across the world, Renaissance Capital said on Tuesday.

  • CARACAS, Sept 5- Venezuelan President Nicolas Maduro has enlisted a Spanish academic he has hailed as the " Jesus Christ of economics" to help the South American country manage chronic product shortages. Alfredo Serrano is the only foreigner to form part of the Superior Organ of the Grand Mission of Sovereign Supply, a group of civilians and military officers...

  • BUENOS AIRES, Sept 5- Argentine state-run carrier Aerolíneas Argentinas canceled two flights to Caracas between Sept. 10 and 12 due to security concerns, a spokeswoman said on Monday. The announcement followed one of the biggest anti-government protests last week against socialist rule in Venezuela in more than a decade. "Because of calls for new...

  • U.S. anti-trade election rhetoric concerning: WTO

    Roberto Azevedo, Director-General of WTO, speaks about anti-trade election rhetoric, the difficulty of forming trade deals and stresses in South America.

  • Venezuelans protest in streets of Caracas

    In Venezuela, Anatoly Kurmanaev, Wall Street Journal, describes the streets of Caracas amid protests against the nation's government.

  • Venezuela Outlook

    The Venezuelan military will have everything to lose if the government falls, says Oxford Economics' Carlos de Sousa.

  • Impeached President Dilma Rousseff delivers her farewell address in Alvorado Palace on August 31, 2016 in Brasilia, Brazil.

    Brazil's Senate ousted President Dilma Rousseff on Wednesday, ending an impeachment process that polarized Latin America's biggest country.

  • Opposition leader imprisoned in Venezuela

    Ahead of a large protest scheduled for this Thursday, a leader of the opposition has been imprisoned in Venezuela. CNBC's Michelle Caruso-Cabrera reports.

  • Iranian workers walk at a unit of South Pars Gas field in Asalouyeh Seaport, north of Persian Gulf, Iran November 19, 2015.

    Venezuela and Iran are continuing to seek consensus on ways to stabilize oil markets, Venezuelan President Nicolas Maduro says.

  • CARACAS/ HOUSTON, Aug 26- Venezuela's state oil company, PDVSA, has relaunched a large tender for the drilling of 600 oil wells in the world's largest crude reserves, sources with knowledge of the tender said this week, after a similar project collapsed last year amid concerns about transparency and political favoritism. Reuters reported last month that tiny...

  • TORONTO, Aug 23- Canada's Rusoro Mining Ltd said on Tuesday it has been awarded more than $1.2 billion by a World Bank tribunal that ruled Venezuela had unlawfully seized the company's gold assets four years ago. Shares in the Vancouver- based mining firm, which is backed by Russia's Agapov family, more than doubled on Tuesday, trading for as much as 32 cents- their...

  • Famed weather prognosticating groundhog Punxsutawney Phil. An early spring was predicted as Phil did not see his shadow.

    Though some predict oil will rise to $60 this year, consultant Andy Lipow says the market is acting more like the movie "Groundhog Day."

  • CARACAS/ HOUSTON, Aug 19- Venezuelan state oil company PDVSA has begun talks with Credit Suisse AG for a possible swap of bonds due in 2017, according to sources familiar with the conversations. The oil company is due to pay in November some $2.3 billion in amortization for bonds due in 2017, an amount representing more than half of what PDVSA owes in total...

  • A pump jack and pipes at an oil field near Bakersfield, California.

    Preliminary data from the American Petroleum Institute showed a surprise build in U.S. gasoline stocks.

  • BRASILIA/ MONTEVIDEO, Aug 16- Brazil summoned Uruguay's ambassador on Tuesday after the neighboring country's foreign minister accused Brazil of trying to "buy" its vote to block Venezuela from taking the rotating presidency of the Mercosur trade bloc. In comments to lawmakers last week that were made public on Tuesday, Uruguayan Foreign Minister Rodolfo Nin...

  • BRASILIA, Aug 16- Brazil's Foreign Ministry summoned Uruguay's ambassador on Tuesday to explain comments reportedly made by Uruguay Foreign Minister Rodolfo Nin Novoa, who accused Brazil of trying to block Venezuela from taking the presidency of the Mercosur trade bloc. Uruguayan media reported that Nin Novoa said the Brazilian government tried to "buy"...

  • CARACAS, Aug 15- Venezuela, which holds the world's largest crude reserves, is on track to suffer its steepest annual oil output drop in 14 years as it suffers the effects of an economic crisis and years of under investment and mismanagement, according to data seen by Reuters and interviews with company sources and workers. In the 12 months to June, Venezuela's...

  • CARACAS, Aug 15- Venezuela, which holds the world's largest crude reserves, is on track to suffer its steepest annual oil output drop in 14 years as it suffers the effects of an economic crisis and years of under investment and mismanagement, according to data seen by Reuters and interviews with company sources and workers. In the 12 months to June, Venezuela's...

  • Deputy Crown Prince of Saudi Arabia Mohammad bin Salman Al Saud

    Saudi Arabia just made it much more likely that OPEC and other oil producers will take action if crude prices weaken.

  • CARACAS, Aug 4- Facing a national food crisis, Venezuela's pumpkin-growing socialist president is exhorting compatriots to grow fruit and vegetables on balconies and roofs and in barracks across the country. His government's " Great Agro-Venezuela Mission" is promoting city farming to offset shortages which have led to lootings and riots as the OPEC country...