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Oil and Gas

Venezuelan Parliament Passes New Oil and Mining Laws in First Discussion

Venezuela's National Assembly in downtown Caracas. (archive)

The proposed amendment would reopen Venezuela’s oil servicing sector to private capital, prohibit further expropriations, and mandate the state pay compensation within 180 days. 

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Venezuelan Supreme Court Admits Lawsuit against Mega-Mining Project

Venezuela’s Supreme Court agreed to hear a lawsuit filed against the Orinoco Mining Arc on Tuesday. (Archive)

Venezuela’s Supreme Court announced that it would hear a lawsuit filed by former high ranking cabinet members against a government plan to open 12 percent of the South American nation’s territory to open-pit mining.

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China Denies Allegations of Dialogue with Opposition

Deputy Director of Foreign Ministry Information Department Hua Chunying (South China Morning Post).

The Chinese government dismissed allegations that they met with the opposition after a Financial Times’ recent report stated otherwise.

 

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5 Plead Guilty in Bribery Scandal at Venezuela's PDVSA

PDVSA is a major source of revenue for the Venezuelan government, which is currently struggling with an economic downturn. (AVN)

At least five people in the United States have now pleaded guilty to charges linked to a bribery scandal centred around Venezuelan state oil firm PDVSA, according to reports Wednesday.

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Venezuela’s Maduro Announces String of Emergency Economic Measures

Venezuelan President Nicolas Maduro addressing the nation. (@PresidencialVen)

The economic initiatives include changes to the country’s multi-tiered exchange rate, a rise in the domestic price of gasoline, the implementation of a new tax system, and placing more power over food distribution in the hands of organised communities.

 

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Opposition’s Capriles Wants “Padlock” Law to Halt International Oil Treaties

Capriles proposes eliminating the government’s current international oil policy (Reuters).

Twice presidential candidate for the Venezuelan opposition Henrique Capriles Radonski has revealed that he has proposed a “padlock” law to the incoming opposition parliamentary bloc in the National Assembly. The legislation would prevent the government from negotiating further international oil treaties with other countries. 

 

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US Unable to Supply Caribbean if PetroCaribe Ends, Admits Success of Venezuelan Program

US Deputy National Security Advisor Ben Rhodes. (Kevin Lamarque/Reuters)

Washington warned Caribbean nations Wednesday that the United States would be unable to supply them with oil in the event that that Venezuela’s newly elected opposition-controlled parliament cuts off the flow of subsidized petroleum under the PetroCaribe program. 

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‘Democracy, as Usual,’ in Venezuela

Supporters of the Mesa de la Unidad (MUD) political party cheer during a closing campaign rally in Caracas, December 2, 2015. (A

Contrary to the mainstream media narratives, the conflict in Venezuela is not over democracy, but over the distribution of oil wealth. 

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Venezuela’s Maduro: We will Review Relations with US after NSA Spying Revelations

Maduro says that he will conduct a revision of US-Venezuela relations in light of the revelations. (Panorama)

Venezuelan President Nicolas Maduro has announced that his government will review its diplomatic ties to the US, after a leaked document revealed that the National Security Agency had spied on officials at Venezuelan state oil company PDVSA.

 

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Overwhelmed NSA Surprised to Discover its own Surveillance "Goldmine" on Venezuela's Oil Executives

(Reuters)

This newest revelation of NSA spying, reported as part of The Intercept’s partnership with teleSUR, comes just weeks after the Wall Street Journal reported that the U.S. government has launched “a series of wide-ranging investigations” into alleged corruption at Petróleos de Venezuela, or PDVSA.

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