Venezuela's Citgo Petroleum says it's laying off 75 employees because of the world economic crisis.
President Hugo Chávez, buffeted by falling oil prices that threaten to damage his efforts to establish a Socialist-inspired state, is quietly courting Western oil companies once again, the New York Times reports.
Venezuela will seize several gold mining concessions that previous governments granted private operators, in a bid to supplement falling oil prices with proceeds from state-controlled gold, President Hugo Chavez said Saturday.
Venezuela's state run oil company, PDVSA, is urgently searching for replacement financing after losing a line of credit of more than $5 billion from the Royal Bank of Scotland, CNBC has learned.
The Venezuelan government has ordered nearly all McDonald's restaurants in the country closed for 48 hours for what it calls irregularities in the fast-food chain's financial books.
Venezuelan President Hugo Chavez was due in Moscow on Thursday, his second visit within months as Russia increases its ties with the U.S. foe after fighting a war against American-allied Georgia.
Venezuela's President Hugo Chavez has added a large Spanish-owned bank to the list of companies to be run by the government in the oil-exporting nation, furthering his plans of building a socialist state.
Venezuelan President Hugo Chavez said on Sunday oil prices could hit $300 per barrel if U.S. oil company Exxon Mobil again freezes Venezuelan assets in a dispute over a nationalized oil project.
U.S. imports of Venezuelan oil fell 11.7 percent during the first four months of the year compared to the same period in 2007, the U.S. government said Monday.
Venezuelan President Hugo Chavez Thursday threatened to stop selling oil to European countries if they apply a new ruling on illegal immigrants that is criticized in Latin America and by human rights groups.
Venezuela will not attend a meeting of oil consumers and producers this coming weekend and sees no need to up output, the country's oil minister said on Wednesday.
Brazil's strong growth-- fueled by red-hot commodities exports and a strong domestic demand-- offers investors a growing range of options.
Venezuela is seeking to remove Exxon Mobil as the operator of its joint-venture refinery in Chalmette, Louisiana, Oil Minister Rafael Ramirez said Wednesday.
President Hugo Chavez Thursday announced the immediate nationalization of Venezuela's cement industry, a move that will hit Mexico's Cemex, just a year after Chavez launched a wave of state takeovers.
Venezuela is preparing a "windfall" oil tax to boost the OPEC nation's revenues from record crude prices, only months after leftist President Hugo Chavez's nationalization crusade forced out two of the world's largest energy companies
Venezuela is not interested in seeing oil prices rise further and is pushing to stabilize the market, President Hugo Chavez said after visiting the site of a Brazilian refinery being built to process Venezuelan crude.
A British judge has lifted a $12 billion freeze on Venezuelan assets awarded to U.S. oil major Exxon Mobil in a spat over a seized oil project.
U.S. crude oil futures settled at another record in volatile, choppy trading, as technical strength combined with skepticism about the dollar's long-term prospects after the Federal Reserve's liquidity action.
Oil shot up almost $3 a barrel Monday to a closing record of $107.90, extending a rally led by investors seeking a hedge against the tumbling U.S. dollar and inflation.
Oil prices hit a new record high as a weak dollar outweighed concerns of a recession in the United States that had been triggered by an unexpected drop in U.S. jobs data earlier in the day.