Politics Hugo Chavez

  • CARACAS, Aug 15- Venezuela's opposition-controlled congress is considering reforms to the country's oil law that would open up the sector to private investment but are scaled back from the sweeping changes outlined in a past proposal, according to a draft of the bill seen by Reuters. The changes address issues that have limited companies' profitability since...

  • CARACAS, Aug 2- The International Chamber of Commerce's arbitration tribunal has dismissed U.S. oil company ConocoPhillips' $1.5 billion claim against Venezuelan state oil company PDVSA, an adviser to opposition leader Juan Guaido said on Friday. The case related to Venezuela's breaking of a contract with Conoco regarding its stake in an offshore oil...

  • July 29- A U.S. federal appeals court on Monday rejected an appeal by Venezuela's state-owned oil company to set aside an order allowing a Canadian gold mining company to seize shares in its U.S. refining unit, Citgo Petroleum Corp. Crystallex International Corp had won the $1.4 billion judgment as compensation for the expropriation of its assets in Venezuela...

  • July 29- A U.S. federal appeals court on Monday rejected an appeal by Venezuela's state-owned oil company to set aside an order allowing Canadian gold mining company Crystallex International Corp to attach assets to help satisfy a $1.4 billion judgment. The 3rd U.S. Circuit Court of Appeals in Philadelphia said a lower court acted within its discretion to...

  • MEXICO CITY/ CARACAS, June 28- Venezuelan state oil firm PDVSA is revamping one of its major processing operations geared to supplying U.S. buyers to produce instead a crude grade favored by Asian refiners, according to internal documents seen by Reuters. The move comes after domestic inventories of Venezuela's synthetic crude jumped after U.S. refiners...

  • CARACAS, June 17- Jamaica's government said on Monday it already owns the 49% stake in a refinery on the island formerly held by Venezuelan state oil company PDVSA, after the South American country's opposition requested it not expropriate the shares. Jamaica's Senate in February passed legislation clearing the way for the government to acquire the 49% stake...

  • CARACAS, May 3- Venezuela's central bank has begun using piles of cash rather than electronic transfer to sell foreign exchange to local banks, according to five finance sector sources, a sign of how the nation's economy has become increasingly primitive amid a hyperinflationary meltdown. Foreign banks have become increasingly unwilling to carry out...

  • WASHINGTON, April 26- The United States on Friday imposed sanctions on Venezuela's Foreign Minister Jorge Arreaza, saying it would pursue those in President Nicolas Maduro's government for corruption as well as officials conducting diplomacy on his behalf. Arreaza and a judge in the Court of Appeals for Caracas, Carol Padilla, were targeted in the latest...

  • It would follow a March decision by the World Bank's International Center for Settlement of Investment Disputes to impose the largest arbitration award against Venezuela. George Kahale, a U.S. attorney who represented the Venezuelan government before the World Bank tribunal, did not immediately respond to a request for comment. Venezuela's information...

  • VALENCIA, Venezuela, April 12- The latest power outage started another tough week for factory owner Antonello Lorusso in the city of Valencia, once Venezuela's industrial powerhouse. Lorusso's packaging plant, Distribuidora Marina, had already struggled through years of hyperinflation, vanishing client orders, and a flight of employees.

  • Vice President Mike Pence on Friday stepped up efforts to force Venezuelan President Nicolas Maduro from office by imposing new sanctions on its oil shipments, and promising "stronger action" against Cuba for helping to keep the regime afloat. "The United States will continue to exert all diplomatic and economic pressure to bring about a peaceful transition...

  • HAVANA, March 14- Cuba has jettisoned rhetorical restraint toward the United States and is broadcasting footage of military defense exercises in the face of threats and new sanctions from the administration of President Donald Trump. Not anymore, as the United States is increasingly blaming Cuba's Communist government for the political crisis in its...

  • CARACAS, March 8- Venezuela's power supply remained patchy on Friday after the worst blackout in decades paralyzed most of the country, exacerbating hardship for millions of people already suffering from hyperinflation and widespread shortages of basic goods. Power went out across the recession-stricken country on Thursday afternoon due to a problem at...

  • CARACAS, March 8- Venezuela began restoring power on Friday after the worst blackout in decades paralyzed most of the country, exacerbating hardship for millions of people already suffering from five years of recession and widespread shortages of basic goods. Power went out across the recession-stricken country on Thursday afternoon due to a problem at...

  • CARACAS, March 8- Venezuela shut schools and suspended the workday as the worst blackout in decades paralyzed most of the country for a second day on Friday, while China warned Western nations against meddling in the South American country's domestic affairs. Power went out across the recession-stricken country on Thursday afternoon due to a problem at...

  • CARACAS, March 8- Venezuela shut schools and suspended the workday on Friday as the worst blackout in decades paralyzed most of the troubled nation for a second day, spurring outrage among citizens already suffering from hyperinflation and a crippling recession. While blackouts are routine in many Venezuelan provinces, particularly along the western...

  • EL JUNQUITO, Venezuela, Feb 27- Local opposition leader Jose Rengel has spent almost five weeks in a cramped detention cell on the outskirts of the Venezuelan capital Caracas, after a single witness accused him of leading a riot that burned down a public building. Rengel was arrested together with eight other men on January 24 after the witness- a member of the...

  • Venezuela's President Nicolas Maduro, right, walks with Chinese President Xi Jinping as they arrive to a welcoming ceremony at the Great Hall of the People on January 7, 2015 in Beijing, China.

    China and Russia are doubling down on their support for Venezuela's embattled president, and some say that has a lot to do with the billions of dollars Caracas still owes to Beijing and Moscow.

  • Young people marching against fraud in some formats of vote counting in the last presidential elections of Colombia on May 31, 2018.

    A leftist and a conservative candidate are heading to a run-off election to become Colombia's next president.

  • Feb 12, 2018: Venezuelans honor those killed during recent protests.

    The millions of Venezuelans fleeing their crisis-torn nation may soon overshadow the number of Syrian refugees, according to an economist.