CARACAS: Venezuela’s acting president, Delcy Rodríguez, has signed into law a sweeping reform of the country’s oil industry that opens the sector to private and foreign investment, marking a decisive break from decades of strict state control under socialist rule. The legislation was approved by the National Assembly on Thursday and signed by Rodríguez soon […]
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US aims to control Venezuelan oil sales to influence country’s economy
WASHINGTON: Top US officials said on Wednesday that Washington plans to control Venezuela’s oil sales and revenues indefinitely to stabilise the country’s economy, rebuild its oil sector, and ensure its actions align with US interests. The comments come after US forces abducted Venezuelan President Nicolas Maduro in a raid on Caracas, highlighting oil’s central role […]
Venezuela to export $2 billion in oil to US under Trump-Rodriguez deal
WASHINGTON/CARACAS: Venezuela and the United States have reached a deal for Caracas to export up to $2 billion worth of crude oil to the US, President Donald Trump announced Tuesday, a landmark agreement redirecting shipments from China while easing pressure on Venezuela’s oil sector. Read More: Oil prices rise as Venezuela bonds surge after US captures Maduro The […]
Oil prices rise as Venezuela bonds surge after US captures Maduro
HOUSTON: Oil prices jumped on Monday following the US capture of Venezuela President Nicolas Maduro, as traders weighed potential disruptions to crude flows from the OPEC member with the world’s largest oil reserves. Read More: Oil prices ease amid Venezuela, Russia concerns Brent crude futures rose 96 cents, or 1.58pc, to $61.71 a barrel, while US West […]
Shadow of sanctions could hit Venezuela’s sick hardest
In sanctions-scourged Venezuela, the sick suffer the most. Five-year-old Zabdiel needs a bone marrow transplant. Venezuela’s government has stopped paying his treatment, blaming sanctions by the United States — which is set to add an oil embargo Sunday. Zabdiel’s case is common in Venezuela, where families want answers as their sick children await life-saving transplants. […]