• Oil Price Slump Hits Venezuela Hard

    RIO DE JANEIRO, BRAZIL - The current drop in oil prices on the international markets has serious consequences for Venezuela. The South American country is highly dependent on oil exports. For years, oil sales have accounted for well over 90 percent of Venezuela's exports. It is estimated that Venezuela could lose ...

  • Despite Sanctions, Joint Ventures in Venezuela Resume Oil Production

    RIO DE JANEIRO, BRAZIL - Venezuela will maintain oil production in the Orinoco oil belt through two joint ventures, according to the news agency Reuters. Petrocedeño, which is operated by the Venezuelan state oil company PdVSA together with Total (France) and Equinor (Norway), and Petromonagas, a joint venture with the ...

  • Emigration from Venezuela Slows Down, Number of Returnees Increases

    RIO DE JANEIRO, BRAZIL - Opinion research institutes in Venezuela and the US news agency Bloomberg, specializing in economic issues, have drawn attention to changes in migration flows into and out of Venezuela. A slight stabilization of the Venezuelan economy, and negative experiences in the migrants' host countries are said ...

  • Oil Production in Venezuela Shows Slight Recovery

    RIO DE JANEIRO, BRAZIL - The growth is reflected in the monthly figures of the Organization of Petroleum Exporting Countries (OPEC). This is the highest figure since the tightening of US sanctions against the Venezuelan state oil company PDVSA in August this year. This month, the US government threatened foreign ...