Business News Venezuela

  • LONDON, May 23- The United States told some large foreign firms this week they should stop trading jet fuel with Venezuela or face sanctions, according to two industry sources, ratcheting up pressure intended at removing Venezuelan President Nicolas Maduro from power. U.S. State Department officials called several large Swiss-and British-based trading...

  • LONDON, May 23- The United States told some large trading houses this week they should stop trading jet fuel with Venezuela or face sanctions, ratcheting up pressure aimed at removing Venezuelan President Nicolas Maduro from power, according to two industry sources. According to the two sources familiar with the calls to several large Swiss- and British-based...

  • CARACAS, May 22- The United States should help Venezuela keep control over U.S. refiner Citgo by preventing its seizure by creditors seeking to collect on unpaid Venezuelan debts, opposition leader Juan Guaido said in an interview with Reuters on Wednesday. Venezuela's opposition is pushing to remove President Nicolas Maduro amid a catastrophic economic...

  • BOGOTA, May 22- Colombia's state-run oil company Ecopetrol said on Wednesday its crude exports to the United States rose nearly 25% in the first quarter because of lower supply from neighboring Venezuela and higher production. Colombia is among the top 10 suppliers of crude to the United States. "The main reasons for the good performance of crude oil exports to...

  • Men stand in line outside Doris Ortegano's house waiting for what may be their only meal for the day on May 13, 2019 in Barquisimeto, Venezuela.

    Over the past decade, cryptocurrencies like EOS and bitcoin have become popular among investors looking to make large profits from a new and anonymous form of storing wealth.

  • May 21- A U.S. judge on Tuesday confirmed a roughly $500 million arbitration award that a unit of Owens-Illinois Inc obtained against Venezuela in connection with the country's seizure and nationalization of two plants in 2010.. District Judge Amy Berman Jackson in Washington, D.C. said federal law required her to confirm the 2015 award in favor of...

  • Saudi Energy Minister Khalid al-Falih and Russian Energy Minister Alexander Novak attend a news conference at the Ritz-Carlton hotel in Riyadh, Saudi Arabia February 14, 2018.

    Major producers strongly signaled they will extend output cuts, which have helped to boost oil prices by about $20 a barrel this year.

  • CARACAS, May 20- Venezuela's opposition has hired veteran debt lawyer Lee Buchheit to help restructure the country's more than $150 billion debt burden, suggesting it could take a tough approach to dealing with investors holding defaulted bonds. Buchheit, a former Cleary Gottlieb attorney who has represented several governments in debt talks with bond...

  • CARACAS, May 20- Venezuela's opposition has hired veteran debt lawyer Lee Buchheit to help restructure the country's more than $150 billion debt burden, suggesting it could take a tough approach to dealing with investors holding defaulted bonds. Buchheit, a former Cleary Gottlieb attorney who has represented several governments in debt talks with bond...

  • Venezuela, whose economy is reeling from a painful five-year recession amid a prolonged political crisis, saw long lines of vehicles appear at services stations in several regions this week after a shutdown at the OPEC nation's second-largest refinery. Washington recognized opposition head Juan Guaido as Venezuela's rightful leader after he invoked the...

  • *OPEC, allies meet in June to decide production policy. JEDDAH, Saudi Arabia, May 19- Saudi Energy Minister Khalid al-Falih said on Sunday he recommended "gently" driving oil inventories down at a time of plentiful global supplies and that OPEC would not make hasty decisions about output ahead of a June meeting. "Overall, the market is in a delicate situation," Falih...

  • JEDDAH, Saudi Arabia, May 19- Saudi Arabia's Energy Minister Khalid al-Falih said on Sunday he recommended "gently" driving oil inventories down at a time of plentiful global supplies and said OPEC would not make hasty decisions about output ahead of a June meeting. "Overall, the market is in a delicate situation," Falih told reporters before a ministerial panel...

  • JEDDAH, Saudi Arabia, May 18- Saudi Arabia's Energy Minister Khalid al-Falih said on Saturday that he saw no oil supply shortage as global oil inventories are still rising, particularly from the United States, but OPEC will be responsive to the oil market's needs. Speaking in Jeddah ahead of a ministerial panel gathering on Sunday of top OPEC and non- OPEC...

  • CARACAS/ PUERTO CABELLO, Venezuela, May 17- Angry drivers queued for hours in towns across Venezuela on Friday as fuel shortages worsened in the South American nation following a plunge in gasoline imports and a stoppage at the nation's second-largest oil refinery. Shortages of motor fuel have become a periodic occurrence in the OPEC nation, particularly in...

  • PUNTO FIJO, Venezuela/ MEXICO CITY May 16- Gas station lines reappeared across oil-rich but crisis-stricken Venezuela this week as gasoline imports plunged and the country's second-largest oil refinery halted operations. Shortages of motor fuel have become a periodic occurrence across OPEC member Venezuela, particularly in border regions where...

  • CARACAS, May 16- U.S. refiner Citgo sought to sign a contract with a firm owned by a Venezuelan accused of involvement in the drug trade by the U.S. government, according to a complaint by Citgo's former human resources director filed in a Texas court. Marisol Gomez said she was fired after refusing to approve a contract with the firm owned by Samark Lopez, who the U.S....

  • President Donald Trump is keen to advance talks with Switzerland on a free trade deal, Swiss President Ueli Maurer told reporters in Washington after the first visit by a Swiss president to the Oval Office. Switzerland, the seventh largest foreign investor in the United States with $309 billion, is keen to expand economic ties with the United States, said Maurer,...

  • LONDON, May 16- Oil traders anticipate a big draw down in crude stocks in the second half of this year as sanctions on Iran and Venezuela coupled with other supply disruptions and a sluggish response from OPEC cause a severe shortage. Brent's six-month calendar spread has moved into a backwardation of almost $3.80 per barrel up from $2.20 a month ago and a...

  • Offshore oil platforms are seen at the Bouri Oil Field off the coast of Libya.

    Oil prices rose as fears of supply disruptions amid heightened tensions in the Middle East overshadowed swelling U.S. crude stockpiles.

  • President Donald Trump ramps up its trade war with China and its disputes with major oil exporters Iran and Venezuela. At a session at this week's 121 Mining Investment event in Singapore, three out of four panelists picked gold, while the fourth was more in favour of other precious metals such as palladium and silver. Discussions among participants at the 121...