A new US assessment of Venezuela's oil reserves could give the country double the supplies of Saudi Arabia. Scientists working for the US Geological Survey say Venezuela's Orinoco belt region holds twice as much as previously thought.
Colombian exports to Venezuela totalled 652 million US dollars between January and May 2010, showing a 71.4% fall compared with the first five months of 2009, reports Colombia's Department of Statistics (DANE).
While most of South America is undergoing a deceleration of consumer prices Argentina and Venezuela are the only countries to experience a significant increase in inflation, making it one of the main concerns or public opinion.
Venezuela and Chile will jointly preside over a new regional block to promote integration in the Americans but excluding United States and Canada was announced over the weekend during a meeting of Foreign Affairs ministers in Venezuela.
Paraguayan president Fernando Lugo called on Congress, under opposition control, to support the incorporation of Venezuela to Mercosur, as has already been voted by Argentina, Uruguay and Brazil.
Venezuela will nationalize a fleet of oil rigs belonging to US Company Helmerich and Payne, the latest takeover in a push to XXI century Socialism announced President Hugo Chávez as he struggles with lower oil output and a recession.
Argentina’s newly appointed Foreign Affairs minister Hector Timerman confirmed Tuesday he will be present next Thursday/Friday at the United Nations when the Decolonization Committee addresses the “anachronistic colonial issue of the Malvinas Islands”
Newly appointed Argentine Foreign Minister Héctor Timerman officially takes office Tuesday at a ceremony at Casa Rosada but already has a full table of issues. On Monday in a short release he stated that former Argentine ambassador to Venezuela Eduardo Sadous would ”brief Congress tomorrow (Tuesday), with all the freedoms and responsibilities that come with being a member of the Nation's diplomatic corps.”
“There are better conditions, things are quieter now” to consider the incorporation of Venezuela to Mercosur as full member said Paraguayan cabinet chief Miguel Lopez Perito, following a political agreement in Congress with one of the main opposition parties.
Venezuelan President Hugo Chavez announced that the arrival of the rainy season will help eliminate power rationing on weekends and on weekdays at non-peak hours. Chavez made the announcement during a meeting of an electricity advisory group at the Miraflores presidential palace that was aired by state-run VTV television.