The signing of two agreements with the Chavista regime allows the oil company to expand its operations in the Orinoco Belt, which holds more than 80% of the country’s reserves
The government is asking Venezuelans to reduce consumption due to the impact of the dry season on hydroelectric plants
The control over oil revenues shows the extent to which the rentier model that organized Venezuelan economy and politics for decades has been exhausted
The recovery of the Caribbean country will require new rules and large investments
Chris Wright toured the Orinoco Belt oil fields in Venezuela in the company of President Delcy Rodríguez, and said this year could see a ‘dramatic’ increase in oil, gas and electricity levels
According to the investigation, the president received nearly $3.3 million from companies linked to the Alba Petróleos consortium
The opposition leader downplays Delcy Rodríguez's apparent openness and demands freedoms.
The government has created the necessary legal framework to privatize the industry, as Trump requested. The United States has lifted restrictions on crude trade with the Caribbean nation and resumed commercial flights
Since becoming the country with the largest crude reserves on the planet in 2010, its production has fallen to historic lows
Venezuela’s interim president said it is ‘not unusual or irregular’ for Caracas to reach trade agreements with Washington
The interim president faces the challenge of another inflationary storm in a country under sanctions and with limited access to credit
The relationship between the two countries is once again marked by the energy wealth of the Caribbean nation
Unease is spreading among the population amid the prospect of a worsening crisis with the United States
The company received €53 million in 2021 after being considered ‘strategic’ by the Spanish government. The CEO and president have now been arrested as part of a larger operation
The multinational intends to produce 1.2 million barrels per day in the short term
The Maduro government is threatening to take legal action against what it considers a violation of international trade laws
The slight economic growth of recent years could be hampered by fiscal imbalances
The minister, arrested for allegedly leaking information to a company linked to the US intelligence services, was praised for his work at state oil company PDVSA
A US court denies Maduro’s arguments to recover the oil company, which was poorly managed by both Chavismo and the opposition. The deadline for submitting offers ended last week
The former attorney for the state-owned energy corporation handled $25 million through a web in Panama, Switzerland and Andorra. He and his wife also bought luxury homes in Madrid and Caracas
PDVSA, the country’s main source of income, has been plundered by decades of corrupt and incompetent management
The group of Chavista leaders who plundered the energy sector treated themselves to a high standard of living. New documents reveal exorbitant expenses on decoration ($7 million), hotels ($1.8 million) and cooking courses ($430,690)... All paid for with money embezzled from — or kickbacks related to — PDVSA
A group of former Chávez government vice-ministers used funds stolen from Venezuela’s state oil company to hire a personal coach for $120,000, buy $123,900 of luxury tableware, and planned to purchase a $350,000 Ferrari
Irfaan Ali spoke a day after Venezuelan President Nicolás Maduro said he would “immediately” grant operating licenses for exploration and exploitation in Essequibo region
Washington’s decision to lift sanctions on Caribbean country’s oil sector has improved growth forecasts
The network that plundered the state-owned Petróleos de Venezuela (PDVSA) used a series of shell companies to acquire 19 exclusive properties in the oil-rich South American country, along with iconic luxury units in Miami
The frontman of the plot, Luis Mariano Rodríguez Cabello, bought a luxury property in Caracas for the model Claudia Paola Suárez and acquired a $5.3 million home for himself in Miami
