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Saturday, October 24, 2009

CARACAS, Venezuela (Reuters) -- Venezuela's PDVSA has sold all $3 billion of 2014, 2015, 2016 bonds despite waning demand in the latest issue compared with other offers this year, sources at the state oil company said. Some market players had expressed doubt this bond issue would be successful. read more...



Friday, October 23, 2009

GEORGETOWN, Guyana -- Guyana and its South American neighbour Venezuela have entered into a US$18.8 million (GY$3.7 billion) export deal that will see Guyana exporting over 50,000 tonnes of rice to Venezuela. The agreement was signed on Wednesday at a press briefing convened at the Ministry of Agriculture. read more...



Friday, October 23, 2009

CARACAS, Venezuela (Reuters) -- Leftist President Hugo Chavez called on Venezuelans to stop singing in the shower and to wash in three minutes because the oil-exporting nation is having problems supplying water and electricity. Venezuela has suffered several serious blackouts in the past year. read more...



Thursday, October 22, 2009

CARACAS, Venezuela (Reuters) -- Venezuela's PDVSA will not lower the price of a $3 billion issue of 2014, 2015 and 2016 bonds launched this week, the oil company said on Wednesday, despite signs of low demand from traders. The issue comes just days after Venezuela sold $5 billion in sovereign debt. read more...



Wednesday, October 21, 2009

NEW YORK, USA (Reuters) -- A fugitive Venezuelan businessman charged in the United States with defrauding a subsidiary of state oil company PDVSA out of $22 million was indicted by a US grand jury on Tuesday, according to court documents. His co-defendant, Nazly Cucunuba Lopez, 33, pleaded guilty. read more...



Tuesday, October 20, 2009

CARACAS, Venezuela (Reuters) -- Glencore International, the world's biggest commodity trader, is negotiating a deal to buy 360,000 tonnes of primary aluminum over several years from Venezuela's state-run Venalum. A Venalum spokesman said on Monday the talks anticipated $100 million down-payment. read more...



Monday, October 19, 2009

COCHABAMBA, Bolivia (Reuters) -- Venezuelan President Hugo Chavez said on Saturday Iran is helping his country explore for uranium, but stressed his government would only use nuclear energy for peaceful purposes. President Barack Obama and other leaders have accused Iran of seeking to develop nuclear weapons. read more...



Saturday, October 17, 2009

MADRID, Spain (Bloomberg) -- Duro Felguera SA, the Spanish contractor that designs and builds power plants, is bidding for more contracts in Venezuela after winning a 1.5 billion-euro ($2.2 billion) order to build a power plant. Spain will account for less than 20 percent of sales next year, Torres predicted. read more...



Friday, October 16, 2009

CARACAS, Venezuela (Reuters) -- Spain's Repsol YPF on Thursday confirmed a natural gas site off the coast of Venezuela contained reserves of between 5.6 trillion and 7.8 trillion cubic feet of gas, the largest such discovery in the country's history. Repsol says it is comfortable with its operations in Venezuela. read more...



Friday, October 16, 2009

CARACAS, Venezuela (AFP) -- Venezuelan President Hugo Chavez has said he seized the landmark Hilton hotel on Margarita Island because its owners dared to impose conditions on its use by his government to host a summit there last month. Chavez said they had to ask permission to hold the conference. read more...



Thursday, October 15, 2009

WASHINGTON, USA (AFP) -- The US-based Hilton hotel chain is "evaluating" the Venezuelan government's seizure of one of its hotels on the Caribbean resort island of Margarita, a spokeswoman told AFP on Wednesday. President Hugo Chavez ordered the "acquisition by force" of the landmark hotel Tuesday. read more...



Thursday, October 15, 2009

CARACAS, Venezuela (AFP) -- Venezuela's Justice Ministry accused the deputy mayor of Caracas and leading opposition figure, of attacking a police officer and of incitement to violence during an August protest against a new education law. The ministry asked a court that Richard Blanco be kept in the Yare prison. read more...



Thursday, October 15, 2009

CARACAS, Venezuela (AFP) -- Installation of 1,630 kilometers of fiber optic cable between Cuba and Venezuela will start Wednesday, Venezuela's science and technology chief said. Caracas is communist Cuba's closest ally in Latin America, and a leading financial support through oil and trade deals. read more...



Wednesday, October 14, 2009

CARACAS, Venezuela (AFP) -- President Hugo Chavez has ordered the "acquisition by force" of a landmark Hilton Hotel on Venezuela's Margarita island, the government's Official Gazette announced Tuesday. The facility, on the Caribbean resort island of Margarita in Nueva Esparta state, was targeted for state takeover. read more...



Monday, October 12, 2009

PUERTO ORDAZ, Venezuela (Reuters) -- Venezuela's dream of a first World Cup finals appearance was shattered on Saturday when they lost 2-1 at home to Paraguay in their penultimate qualifier. Paraguay, already assured a place in their fourth successive finals, buried Venezuela's hopes with breakaway goals. read more...



Monday, October 12, 2009

CARACAS, Venezuela (Reuters) -- Venezuela's socialist leader Hugo Chavez said on Sunday that US President Barack Obama had done nothing beyond wishful thinking to earn the Nobel Peace Prize. Chavez said he thought it was a mistake when he read the US leader had won. read more...



Friday, October 9, 2009

CARACAS, Venezuela (Reuters) -- President Hugo Chavez's senior economic team is to unveil long-awaited economic measures on Thursday, aimed at spurring growth, curbing inflation and strengthening Venezuela's currency in the black market. Chavez and other officials have been flagging the measures for weeks. read more...



Wednesday, October 7, 2009

CARACAS, Venezuela (AFP) -- Fifty-six people were murdered in Caracas over the weekend, in a wave of weekend violence that left the local morgue overflowing with bodies. News reports cited figures provided by the local morgue because the government stopped disclosing homicide statistics. read more...



Wednesday, October 7, 2009

CARACAS, Venezuela (Reuters) -- Venezuela's consumer prices rose 2.5 percent in September, the highest monthly level this year, underlining the challenge President Hugo Chavez faces in taming one of the world's highest inflation rates. The price hikes have continued despite economic contraction. read more...



Tuesday, October 6, 2009

CARACAS, Venezuela (Reuters) -- Venezuela and US company Chevron on Monday shut a jointly operated oil upgrader in the Orinoco region for 40 days of planned maintenance, a top official at state-run oil company PDVSA said. Chevron has a 30 percent stake in the 180,000 barrel-per-day joint venture. read more...



Monday, October 5, 2009

CARACAS, Venezuela (Reuters) -- Oil exporter Venezuela predicts very little economic growth in 2010, along with high inflation and low crude prices, President Hugo Chavez said on Friday, citing figures from next year's proposed budget. Chavez said inflation for 2010 was expected to be as high as 22 percent. read more...



Monday, October 5, 2009

CARACAS, Venezuela (AFP) -- Thousands of college students marched in the Venezuelan capital demanding that President Hugo Chavez allow members of a regional human rights monitoring group to visit Venezuela. The protestors want members of the Inter-American Commission on Human Rights to visit. read more...



Saturday, October 3, 2009

CARACAS, Venezuela (Reuters) -- Venezuela will train peasant militias that work with soldiers as tensions rise with landowners after a spate of shootings of small farmers, including two attempts on one man's life this year. Agriculture Minister Elias Jaua did not say whether the groups will be armed. read more...



Saturday, October 3, 2009

CARACAS, Venezuela (Reuters) -- Venezuela said on Friday it had acquired ConocoPhillips' share in the Deltana Platform offshore natural gas project and will develop the field in a joint venture with Chevron. The Deltana Platform is a gas field between the mouth of the Orinoco river and Trinidad and Tobago. read more...



Friday, October 2, 2009

CARACAS, Venezuela (Reuters) -- Venezuela will not assign any new areas in the Orinoco oil belt after it completes an auction for its Carabobo project, the Venezuelan state-run oil company PDVSA said on Thursday. The company said in a statement it would accept offers for the seven blocks in the Carabobo project. read more...



Friday, October 2, 2009

CARACAS, Venezuela (Reuters) -- Venezuelan students protesting President Hugo Chavez's government called off a weeklong hunger strike after one of their leaders was released from jail. About 150 students had joined the protest, many lying on mattresses outside the office of the Organization of American States. read more...



Thursday, October 1, 2009

CARACAS, Venezuela (Reuters) -- Venezuela is studying changes in the royalties scheme for its Carabobo project in the Orinoco heavy crude region, a source familiar with the talks told Reuters on Wednesday. Venezuela plans to receive bids for the project in January. read more...



Thursday, October 1, 2009

BOGOTA, Colombia (Reuters) -- Venezuelan magnate Gustavo Cisneros will build a $2 billion tourist resort in the Dominican Republic to be called The Tropicalia, a statement issued by Cisneros' business group said on Wednesday. The resort is expected to take about 20 years to build. read more...



Wednesday, September 30, 2009

CARACAS, Venezuela (Reuters) -- Venezuela said that seven African nations would join it in forming a cross-continental mining corporation intended to give poor nations greater control of developing their resources. Mauritania, Mali, Niger, Sierra Leone, South Africa, Angola and Tanzania have signed letters of intent. read more...



Tuesday, September 29, 2009

CARACAS, Venezuela (Reuters) -- Venezuela said on Monday it will issue $3 billion in dollar-denominated bonds maturing in 2019 and 2024 as President Hugo Chavez's government looks to temper demand for dollars and jump-start the economy. The offer opens on Tuesday and will close on Friday. read more...



Tuesday, September 29, 2009

CARACAS, Venezuela (Reuters) -- The state-run oil companies of Venezuela and Vietnam expect to begin extracting heavy crude from the South American country's Orinoco region in 18 months, a Venezuelan official said on Monday. Petrovietnam holds a 40 percent stake in a joint venture with PDVSA. read more...



Tuesday, September 29, 2009

CARACAS, Venezuela (Reuters) -- Dozens of Venezuelan student activists kept up a hunger strike on Monday, accusing President Hugo Chavez of persecuting government opponents in their latest protest against the socialist leader. More than 50 students continued a demonstration that first started last week. read more...



Monday, September 28, 2009

PORLAMAR, Venezuela (AFP -- With key energy accords on the table at the second South America-Africa (ASA) summit here, Libyan leader Moamer Kadhafi upped the ante Saturday with calls for the creation of a "NATO of the South" by 2011. The summit is being attended by 30 heads of state. read more...



Monday, September 28, 2009

PORLAMAR, Venezuela (AFP) -- Venezuela's government said Saturday it will inject three billion dollars into its domestic market this week in a bid to regain liquidity in its economy. "It's going to be immediate," said Finance Minister Ali Rodriguez about the injection's impact at the start of the fourth quarter. read more...



Monday, September 28, 2009

PORLAMAR, Venezuela (Reuters) -- Venezuela has yet to develop a plan to explore or exploit its uranium deposits despite comments by a government official saying it was working with Iran to locate them, Venezuela's energy minister told Reuters. "No plan has been determined," said Rafael Ramirez. read more...



Saturday, September 26, 2009

PORLAMAR, Venezuela (Reuters) -- Venezuela is advancing with France's Total as a partner in the Junin 10 oil field, Venezuelan Energy Minister Rafael Ramirez said on Friday. A top official for Venezuela's state oil company PDVSA said this week it was looking at choosing between Total or Norway's Statoil. read more...



Saturday, September 26, 2009

PORLAMAR, Venezuela (Reuters) -- Iran is working with Venezuela to identify uranium deposits in the South American country and preliminary tests show it may hold large reserves, a Venezuelan official said on Friday. Iranian officials have aided in carrying out geophysical testing and flight surveys. read more...



Saturday, September 26, 2009

NEW YORK, USA (AFP) -- Venezuelan President Hugo Chavez said US Secretary of State Hillary Clinton was "totally wrong" in criticizing his government's arms purchases from Russia. "She is totally lost," Chavez said on Thursday when asked about it in an interview with CNN. read more...



Friday, September 25, 2009

CARACAS, Venezuela (Reuters) -- Venezuela's President Hugo Chavez said he is considering establishing full relations with Iraq, six years after cutting ties over the US-led invasion of the Middle Eastern nation. "We are considering sending our ambassador to Iraq again," said Chavez. read more...



Friday, September 25, 2009

OSLO, Norway (Reuters) -- StatoilHydro said on Thursday it was looking for new business in Venezuela after state oil company PDVSA said the Norwegian oil and gas producer was a candidate for its Junin 10 oilfield project. "We are pre-qualified to take part in the round that has been announced," Dotterud said. read more...



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