In a significant development, in a summit that took on Saturday, Mexico’s president and other leaders said, Caribbean nations and Latin American countries should aspire to form a bloc similar to the European Union in a bid to wrest away… Read More ›
Venezuela
Cuba attracts $1.7 billion in foreign direct investments
Faced with a cooling economy, Cuba aims to boost its economy with its annual trade fair in Havana. Cuba’s Trade Minister Rodrigo Malmierca told a news conference at Cuba’s annual trade fair in Havana that Cuba has attracted foreign investments… Read More ›
Exxon Mobil halts oil survey survey over confrontation with Venezuela’s navy
Home of the world’s biggest crude oil reserves, production of crude oil in Venezuela, a OPEC member, has reached its lowest levels in 70 years. Guyana’s Foreign Affairs Minister Carl Greenidge stated, the government is “in discussion” with Exxon Mobil… Read More ›
Venezuela begins pilot initiative for subsidized gasoline for border areas
The initiative is aimed at curbing rampant smuggling of gasoline, which are the lowest in the world. On Tuesday, Venezuela is set to start the implementation of a new payment system for its heavily subsidized gasoline in border areas as… Read More ›
Venezuela takes step to block multi-billion oil smuggling business
Oil prices in Venezuela are set to rise to international levels. However, Venezuelans who register their vehicles in the vehicle census that is being carried out by his government will continue to receive subsidized fuel prices. Through a televised address,… Read More ›
Oil prices likely to rise due to U.S. sanctions on Iran and Venezuela
Iran slammed U.S. arrange of ignoring 60 years of OPEC’s history by suggesting Saudi Arabia boost its oil production in order to make up for Iran’s shortfall. In a development that essentially sets the stage for a tough meeting at… Read More ›
Russia hints that it will gradually boost its oil production from June 2018
OPEC and Russia have been withholding their respective crude oil production levels while oil producers from the U.S., Canada and Brazil have been boosting theirs. As a result of the production cuts, oil prices touched their multi-year high of $80.50… Read More ›
Goldman Sachs’s purchase of Venezuela’s “hunger bonds” come under fire
Goldman Sachs bought PDVSA’s oil bonds for pennies. As per a senior White House official, the Trump administration is concerned about any action by U.S. companies that provides a financial lifeline to Venezuela’s government. The U.S. government stance may have… Read More ›
General Motors may have to write off its investments in Venezuela
General Motor’s factories in Venezuela have been seized by the government. Crisis laden leftist-ruled Venezuela has seized a plant belonging to General Motors. The American company stated that Venezuelan authorities had illegally seized its plant in the industrial hub of… Read More ›
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