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Tag: Venezuela

Finance

Venezuela interim leader announces minimum wage raise for workers

Venezuela’s interim president, Delcy Rodriguez, on Wednesday promised a hike in wages, which have been eroded by years of inflation and economic collapse. The minimum hourly wage in Venezuela is currently equivalent to 27 US cents, with annual inflation exceeding 600 percent. For ordinary Venezuelans, monthly wages can reach $150 with state-provided bonuses, but that’s […]

Oil and Gas

Trump pushes US oil firms toward Venezuela investment

United States President Donald Trump on Friday urged top oil executives to invest in Venezuela’s vast crude oil reserves, but his appeal was received cautiously, with a leading chief executive describing the country as “uninvestable” without sweeping reforms. During a White House meeting, Trump told industry leaders that his administration, rather than authorities in Caracas, […]

featured Oil and Gas

Oil prices slide as Trump makes move on Venezuelan crude

Global oil prices fell on Wednesday on expectations of increased supply after United States President Donald Trump announced that Venezuela would hand over as much as 50 million barrels of crude oil to the United States. According to oilprice.com, the United States and Venezuela reached an agreement under which authorities in the South American country […]

News

US lifts Caribbean airspace ban after Maduro capture

The United States lifted airspace restrictions over the Caribbean late on Saturday after temporarily barring commercial flights during a US military operation that resulted in the capture of Venezuelan President Nicolas Maduro. The airspace restrictions were imposed amid heightened military activity linked to the operation, which unfolded in the early hours of Saturday and affected […]

Oil and Gas

US to take control of Venezuelan oil reserves, says Trump

United States President Donald Trump has said he would permit American oil companies to enter Venezuela and tap into the country’s vast crude oil reserves following a US military operation that resulted in the seizure of Venezuelan leader Nicolás Maduro. Trump made the statement on Saturday while addressing a press conference, where he outlined plans […]

featured Opinion

UN warns US action against Maduro sets dangerous precedent

United Nations Secretary-General António Guterres has described the reported capture of Venezuelan President Nicolás Maduro and his wife by United States special forces as a “dangerous precedent”. This position was contained in a statement issued on Saturday in New York by the UN Spokesperson, Mr Stéphane Dujarric. Guterres said he is “deeply alarmed” by the […]

featured News

US seizes oil tanker near Venezuela amid rising tensions

The United States has apprehended an oil tanker off the coast of Venezuela, a move the Venezuelan government has condemned as “theft and kidnapping,” marking the latest escalation in Washington’s pressure campaign against Caracas, according to US officials. The interception, which took place on Saturday, was the second time in two weeks that US forces […]

featured Oil and Gas

Oil prices rally as Trump orders Venezuelan tankers blockade

Crude oil prices climbed after United States President Donald Trump issued a directive for a blockade against sanctioned tankers from Venezuela. Meanwhile, equities saw general gains on Wednesday, though United States employment figures did not significantly increase the likelihood of another interest rate reduction in the coming month. Trading sentiment has remained quiet recently because […]

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