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Business Venezuela

  • Hugo Chavez

    Venezuela's government has seized control of 11 oil rigs owned by U.S. driller Helmerich & Payne, arguing that drilling had to be restarted after the company halted operations in response to delayed payments from the country's state oil company.

  • The Cuban flag flying in Park Central in Havana.

    American industries of all kinds—from travel and telecom to construction and energy—would be poised to profit if the 52-year trade embargo with Cuba were lifted. Among the first businesses to cash in would be those involved with tourism, most experts agree.

  • Hugo Chavez

    At least 40 butchers were detained in Venezuela last week on charges of speculation for allegedly driving up their prices. Some say they were held at a military base and were later strip searched when turned over to police.

  • Corroded casket

    Accompanying Venezuela’s soaring levels of murders and kidnappings, its cemeteries are the setting for a new kind of crime wave, says the New York Times.

  • Hugo Chavez

    Venezuelan President Hugo Chavez lashed out at an agreement for American troops to use more Colombian military bases on Friday, accusing the U.S. of aiming to start a conflict and urging his military to be prepared.

  • The price of oil looks set to rise further as political factors limiting investment will join rising demand and a weak dollar among factors pushing up prices, analysts told CNBC Wednesday.

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    The deep waters off the coasts of countries like Brazil and Sierra Leone have become hot spots for large discoveries of oil this year as exploration continues to move further from shore.

  • Hugo Chavez

    Russia and Venezuela on Saturday moved closer to an oil venture deal and discussed arms trade, forging a partnership that may drag Russia into a row over the U.S. military presence in Colombia.

  • Hugo Chavez

    The government of President Hugo Chavez seized control of two of Venezuela's largest coffee processing plants on Monday, threatening to expropriate them if investigations reveal they have illegally smuggled coffee out of the country.

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    It's hard to find a spare tire in Cuba these days, or a cup of yogurt. Air conditioners are shut off in the dead heat. Factories close at peak hours, and workers go without their government-subsidized lunches.

  • Pres. Hugo Chavez of Venezuela

    President Hugo Chavez on Tuesday alleged that U.S. intelligence agencies were behind a purported assassination plot that prevented him from visiting El Salvador.

  • Hugo Chavez

    President Hugo Chavez ordered the takeover of at least six metal, ceramic and other companies Thursday, accelerating his push to spread socialism and build "an industrial complex" in Venezuela.

  • The global economy has crashed and so has the price of oil. The same countries that used billions from crude exports to subsidize gasoline at home, even as prices hit record highs elsewhere in the world, are now under tremendous strain.

  • President Hugo Chavez said Thursday that his government has seized land owned by an Irish cardboard maker as part of a sweeping agrarian reform initiative.

  • Venezuela's Citgo Petroleum says it's laying off 75 employees because of the world economic crisis.

  • Hugo Chavez

    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.

  • Hugo Chavez

    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.

  • Hugo Chavez

    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.

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    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.

  • Hugo Chavez

    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.