Venezuela oil

The revolving door at Venezuela’s oil sector continued to spin on Wednesday after Lukoil, Russia’s second largest oil producer, said it was withdrawing from a multi-billion dollar oil project in the country’s heavy oil rich Orinoco basin.

The news comes just a month after Malaysia’s Petronas pulled out of another big project. Continue reading »

Venezuelans are waiting anxiously for some kind of economic adjustment, which some have interpreted to mean there may be a devaluation in the works after it was announced last week that the measures would “develop the export capacity of the economy”Continue reading »