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.
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 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.
Even a supply surplus and falling demand are no match for oil’s momentum. As crude sets a new record close, commodity veteran Addison Armstrong gives his short and long-term views.
An escalating battle with Exxon highlights the growing rift between the U.S. and Venezuela, which is likely to continue even after President Bush leaves the White House.
With more of the world's most valuable natural resources under the control of national governments, Exxon likely believes it has no other choice than to stand firm in its escalating battle with Venezuela.
Venezuelan President Hugo Chavez stopped oil exports to Exxon Mobil on Tuesday, escalating a multibillion-dollar fight with the U.S. company two days after threatening to cut off all supplies to America.
A key piece of economic data, some big earnings reports and a testy fight between Exxon Mobil and Venezuela may influence markets Wednesday.
Venezuela's state oil company PDVSA has suspended oil exports to Exxon Mobil in retaliation for the freezing of billions of dollars of Venezuelan assets in a legal fight with the U.S. oil giant.
Venezuela softened its tone on Tuesday over a threat to stop oil sales to America, with a top official saying a supply cut would be undesirable a day after world oil prices rose due to President Hugo Chavez's warning.
Venezuela is "ready" to cut off oil supplies to the United States, Energy Minister Rafael Ramirez was reported as saying in a newspaper interview published Tuesday.