Venezuela's former oil czar resigned as ambassador to the United Nations, on what he said were orders from President Nicolas Maduro, a sign of growing divisions in the ruling socialist party amid a deepening economic crisis.
As of January first Venezuela is holding a non-permanent seat at the UN Security Council for two years (2015-2016). In such position, the government will have to take a stance on global issues, based on its “multi-center, pluri-polar world” approach.
Rafael Ramirez new ambassador to the UN, Rivas Alvarado to ALADI and Mercosur. Delcy Rodríguez new chancellor. Letters to the Castro brothers in which he speaks of a change of era published in Havana.
After slamming international banks for more than a decade, the Venezuelan government met with investment bankers to try to change the perception of risk associated to the country and prepare the scenario for upcoming economic measures.
Repsol signed a financing deal Friday with Venezuelan state oil company PDVSA that calls for the Spanish energy major to invest 1.2 billion dollars to boost the output of the companies' Petroquiriquire joint venture.
Venezuela's consumer prices rose 5.1% in October, pushing the 12-month inflation rate to 54.3%, the highest mark since the late President Hugo Chávez took power in 1999. The news was released by the central bank on Thursday which also revealed that the scarcity index had reached its highest level since 2009.
China’s hydrocarbons company Sinopec and Venezuela’s PDVSA (Petroleos de Venezuela SA) agreed investments to develop the Junin 1 oil field in the Orinoco oil strip, which will demand 14 billion dollars for a daily extraction of 200.000 barrels, said PDVSA president Rafael Ramírez currently in Beijing.
PDVSA, Venezuela’s government oil and gas giant will allow joint ventures with China National Petroleum Corp. and Chevron Corp. to manage 6 billion dollars in loans designed to revert oil output declines, said a PDVSA official.
Venezuela will adopt the Mercosur common external tariff in four annual stages which are scheduled to conclude in the first half of 2016, according to what was agreed at the summit held Friday in Brasilia and reported by Brazilian diplomatic sources. This was Venezuela’s first summit as a full member of the South American trade and political block.
Venezuela will hike the amount of oil it is sending to India's Reliance Industries and signed a new 15-year supply contract with the company, Oil Minister Rafael Ramirez announced this week.