Bureau Chief, Andean Region
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Apr 24, 2015

Venezuela probes ex-minister accused of corruption in Spain ferry buys

CARACAS, April 24 (Reuters) – A former minister in President
Nicolas Maduro’s government denied in an interview published on
Friday accusations of corruption during the purchase of three
ferries from Spain and said he was being hounded for denouncing
currency crimes.

Local media said an arrest warrant was issued earlier this
month for Hebert Garcia, a general who served as transportation
and food minister for Maduro, on charges of embezzlement in the
50 million euro ($54 million) purchase in 2013.

Apr 20, 2015

PDVSA says Venezuela oil exports at 2.4-2.5 million barrels per day

ORINOCO BELT, Venezuela (Reuters) – OPEC member Venezuela is currently exporting between 2.4-2.5 million barrels per day from national crude production of around 2.85 million, the head of state oil company PDVSA said.

Venezuela’s output figures have often conflicted with international agencies, which estimate lower output due to methodological differences about how to count extra-heavy crude.

Apr 20, 2015

PDVSA says Venezuela oil exports at 2.4-2.5 million bpd

ORINOCO BELT, Venezuela, April 20 (Reuters) – OPEC member
Venezuela is currently exporting between 2.4-2.5 million barrels
per day from national crude production of around 2.85 million,
the head of state oil company PDVSA said.

Venezuela’s output figures have often conflicted with
international agencies, which estimate lower output due to
methodological differences about how to count extra-heavy crude.

Apr 20, 2015

Venezuela wants oil firm Harvest out, if it can find deep-pocketed buyer

ORINOCO OIL BELT, Venezuela (Reuters) – Venezuela would prefer oil company Harvest Natural Resources Inc to leave the OPEC nation, but wants it to sell a project stake to a company with financial muscle to make major investments, state oil company PDVSA said.

Harvest (HNR.N: Quote, Profile, Research, Stock Buzz) has been seeking to sell its stake in joint venture Petrodelta following years complaining that PDVSA is not allowing it to collect dividends. Venezuela has blocked two proposals to sell that stake to other companies.

Apr 20, 2015

PDVSA and partners sell about $75 million per month at new Venezuela forex rate

ORINOCO OIL BELT, Venezuela (Reuters) – Venezuela’s PDVSA is selling about $50 million a month at a new advantageous foreign exchange rate, while joint ventures with foreign partners are putting in a further $25-30 million a month via the Simadi system, the state oil company’s head said.

The government created Simadi in February as a third tier in Venezuela’s complex currency controls to allow importers and others to buy dollars at a higher cost in local currency than the other official rates of 6.3 and 12 bolivars per dollar.

Apr 20, 2015

Venezuela proposes novel OPEC oil blending deal to fight for market share

ORINOCO BELT, Venezuela (Reuters) – Venezuela has launched talks this month on a novel plan to blend the country’s heavy crude with light oil from other OPEC allies, seeking to create a new variety that can compete against swelling U.S. and Canadian supplies.

The proposal, which would expand on a pilot scheme involving Algerian oil last year, envisions supplying refineries built for medium-grade crudes rather than the light oil that has become plentiful as a result of the North American shale boom, said the head of state oil company PDVSA, Eulogio del Pino.

Apr 20, 2015

PDVSA and partners sell about $75 mln/month at new Venezuela forex rate

ORINOCO OIL BELT, Venezuela (Reuters) – Venezuela’s PDVSA is selling about $50 million a month at a new advantageous foreign exchange rate, while joint ventures with foreign partners are putting in a further $25-30 million a month via the Simadi system, the state oil company’s head said.

The government created Simadi in February as a third tier in Venezuela’s complex currency controls to allow importers and others to buy dollars at a higher cost in local currency than the other official rates of 6.3 and 12 bolivars per dollar.

Apr 2, 2015

Insight – Venezuelan ‘resistance’ movement struggles to bruise Maduro

VALENCIA/MERIDA, Venezuela (Reuters) – Housewives stash bottles and fuel for Molotov cocktails. Activists run a network of safe houses. Masked youths block roads. A rifle-wielding dissident general makes a call to arms.

    From clandestine meetings to guerrilla-style broadcasts, an amorphous and quixotic “resistance” movement has emerged across Venezuela aspiring to force President Nicolas Maduro from power and end 16 years of socialist rule in the OPEC nation. 

Apr 2, 2015

Venezuelan ‘resistance’ movement struggles to bruise Maduro

VALENCIA/MERIDA, Venezuela (Reuters) – Housewives stash bottles and fuel for Molotov cocktails. Activists run a network of safe houses. Masked youths block roads. A rifle-wielding dissident general makes a call to arms.

    From clandestine meetings to guerrilla-style broadcasts, an amorphous and quixotic “resistance” movement has emerged across Venezuela aspiring to force President Nicolas Maduro from power and end 16 years of socialist rule in the OPEC nation. 

Mar 15, 2015

Venezuela’s Maduro given decree powers for rest of 2015

CARACAS (Reuters) – Venezuela’s parliament granted President Nicolas Maduro decree powers on Sunday for the rest of 2015 in a move he says is to defend the country from U.S. meddling but opponents decry as evidence of autocracy.

In a noisy National Assembly session, ruling Socialist Party legislators, who have a majority, applauded the “Enabling Law” as a legitimate response to a U.S. declaration that Venezuela is a security threat and sanctions on seven officials.

    • About Andrew

      "Andrew Cawthorne is a British journalist who has worked for Reuters since 1992 on various assignments in Latin America, Africa, Europe and the Middle East. Prior to that, Andrew worked on newspapers for several years."
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