Algeria will begin supplying Lebanon with fuel oil for its power plants after Lebanon’s electricity company said the day before its supplies were exhausted, according to a radio statement by the Algerian government. RELATED: Lebanon: Israeli Attack in the South Leaves Two Dead and Several Wounded “Instructed by the Algerian President, Abdelmadjid Tebboune, Prime Minister […]

‘I thank OPEC Secretary for his congratulations, which is a recognition of the Venezuelan people’s will,’ Maduro stated. On Tuesday, Haitham Al Ghais, the Secretary-elect of the Organization of the Petroleum Exporting Countries (OPEC), sent a letter to Venezuelan President Nicolás Maduro congratulating him on his victory in the elections held on July 28. RELATED: […]

Venezuelan debt holders are optimistic about the restructuring of this debt in the medium term, in the context of an imminent victory for Nicolas Maduro in the presidential elections this Sunday, July 28. RELATED: Bolivarian Economic Agenda Quietly Diversifying and Growing Venezuela’s Economy The United States biggest bank and of the world’s crucial financial enterprises […]

The tanker was transhipping 1,494 metric tons of industrial fuel when it sank in the early hours of the morning approximately six kilometres off the coast of Bataan.

The meeting held in the Sol del Perú hall, at the Palacio de Miraflores, in Caracas.

The president stressed that this project places La Paz as a new hydrocarbon producing department.

The Venezuelan oil industry revitalization occurs at a time when geopolitical events force the U.S. to reconsider its policies. The resurgence of Venezuela as one of the world’s leading crude oil producers makes this South American nation a key player in global energy stability given that its production contributes to the predictability of international price […]

Currently, this country has the largest proven oil reserves, approximately 300.8 billion barrels. On Wednesday, the Organization of the Petroleum Exporting Countries (OPEC) published a report showing that Venezuelan oil production averaged 904,000 barrels per day (bpd) in the second quarter. RELATED: Brazil’s President Lula hopes for Venezuela’s Quick Return to Mercosur This figure represents […]

He welcomed Latin American authorities for the ALBA-TCP Development Cooperation Agency meeting. On Wednesday, Venezuelan Foreign Affairs Minister Yvan Gil highlighted his country’s progress in recovering its economy and oil industry. RELATED: Inflation is Defeated in Venezuela: President Maduro “Sooner rather than later, the plan to recover the production and export capacity of the oil […]

In 2022, the EU placed a price cap of US$60 per barrel on Russian seaborne crude oil, a move adopted by the Group of Seven. On Thursday, Russian President Vladimir Putin extended a decree on the country’s response measures to the price cap imposed by the West on Russian oil and petroleum products until Dec. […]