Venezuelan Oil Minister Eulogio del Pino confirmed Wednesday the world’s largest oil cartel, OPEC, has reached an agreement to freeze crude output between 32.5 and 33 million barrels per day.
PDVSA’s bonds rose to a two-year high Monday after the Venezuelan state oil company announced a deal to swap US $5.325 billion of its debt due next year for securities maturing in 2020.
The Venezuelan government began Wednesday the first phase of a controversial mining project that activists say could devastate vast swathes of the country’s wilderness.
In an ongoing dispute with the Maduro administration, Venezuela’s largest food and beverage producer has accused the Bolivarian government of “harassment and discrimination” due to the Venezuelan president’s public protest against the conglomerate’s role in the country's economic war.
Foreign travellers visiting the South American country will be charged in US dollars for tourism services, including in travel agencies and accommodation in 4 star and state approved hotels. They will also be able to buy national currency directly from tourism providers.
Local community councils and media have reported networks of re-sellers and gangs have orchestrated more than a dozen attacks and robberies in the last 90 days against food distribution trucks.
Maduro green lighted a request by workers to occupy a factory owned by US consumer products giant Kimberly Clark after the latter shut its doors, firing nearly 1000 workers.
