"We have to get out of ICSID" proclaims Hugo Chavez Frias during ´Hello, President´ on the 8th of January 2012. To understand why, let´s recap. States are sovereign. A state cannot be judged by other states or organisms, because it has jurisdictional immunity, which is inalienable. To hand that over is to loose sovereignty
Venezuelan President Hugo Chavez returned to his weekly talk show programme last night, after his cancer diagnosis in June last year caused it to be cancelled for over seven months. On the show Chavez argued that the claim brought by Exxon against Venezuela's PDVSA was "about imperialism".
CITGO President and CEO Alejandro Granado and Citizens Energy Chairman Joseph P. Kennedy II launched the seventh consecutive year of the CITGO-Venezuela Heating Oil Program today in New Jersey.
Venezuela's position as OPEC's biggest producer in Latin America has allowed the administration of Hugo Chavez to provide energy resources to Caribbean and Central American countries as the cornerstone of its regional geopolitics and diplomacy policies that aim at strengthening ties with its allies.
Before the Bolivarian Revolution, Petróleos de Venezuela, S.A. (PDVSA) the Venezuelan state-run oil company, was completely cut off from society and its needs. The strategic guidelines of the country’s oil industry were set abroad to favour large multinationals such as Exxon and Shell, among others.
An international arbitration panel dismissed a claim by Brandes Investment Partners against Venezuela seeking damages for the forced sale of its stock in the nationalization of the country’s phone company, state-oil company Petroleos de Venezuela SA said today in a statement.
When WikiLeaks announced its plan to release tens of thousands of classified U.S. diplomatic cables to the public, the U.S. government feared a massive international backlash and threat to national security. In this analysis, COHA's Katie Soltis details how the U.S. tried to undermine Haiti’s oil deal with Venezuela in order to protect the vested interests of U.S. oil corporations, among other policies that prioritized U.S. interests over the Haitian people's.
OPEC’s proven crude oil reserves rose 12.1 percent in 2010 to 1.19 trillion barrels led by Venezuela, which has surpassed Saudi Arabia as the group’s largest reserves holder, OPEC said in its Annual Statistical Bulletin.
Venezuela and five other oil-exporting nations made history this week after they broke consensus and their insistence on maintaining oil production at current levels prevented the twelve-nation Organization of Petroleum Exporting Countries (OPEC) from increasing oil production quotas for the coming period.
On 24 May the Obama administration imposed sanctions against Venezuela's state-owned oil company Petroleos de Venezuela (PDVSA), causing Venezuelan Minister of Foreign Affairs Nicolás Maduro to affirm “the relation (with the U.S.) is frozen." Can Washington really afford to antagonize a nation that exports nearly a million barrels per day to the U.S.? Should Venezuela turn off the taps, then the recent gasoline prices of nearly $4 a gallon will begin to look like a bargain.
