ChavezIt is well known that Hugo Chávez is the one that takes the all big decisions in Venezuela, and quite a lot of the smaller ones too.

Indeed, the policy paralysis as he battles cancer from his hospital bed in Havana is becoming all too evident. But there is growing evidence that other important decisions for the nation outside of the government’s control are also being postponed because of Chávez’s absence – in particular regarding investment by foreign companies interested in developing oilfields in the Orinoco Belt. Read more

Venezuela’s gigantic oil reserves are coveted the world over – especially the Orinoco extra-heavy crude belt, which is one of the planet’s few remaining largely untapped reserves of hydrocarbons.

Investment conditions in Hugo Chávez’s Venezuela may not be ideal, but the sheer size of the reserves has attracted oil companies of all shapes and sizes, with the latest to express interest being India’s Reliance IndustriesRead more