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Business Venezuela

  • 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.

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    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.

  • Hugo Chavez

    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.

  • Pres. Hugo Chavez of Venezuela

    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.

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    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.