Venezuela is spiraling once more into an inflationary storm as new data warns that price increases could skyrocket to 530% in ...

According to the 2022 BP Statistical Review of World Energy, Venezuela has more proved oil reserves than any other country in the world. Venezuela’s 304 billion barrels of proved reserves just ...

Venezuela’s oil industry, ... At a U.N. climate change summit last year, Mr. Maduro did not address the environmental damage resulting from his country’s hobbled oil industry.

These changes may decrease the country’s oil revenues, which were approximately $15 billion in 2024, by as much as 30%, analysts estimated. As oil money dwindles, the Venezuelan government is ...

The Biden administration on Wednesday broadly eased sanctions on Venezuela's oil sector in response to a deal reached between the government and opposition parties for the 2024 election - the most ...

Oil has long been the mainstay of Venezuela's economy Venezuela's battered economy is one of the key battlegrounds in Sunday's presidential election, with President Nicolás Maduro hoping to ...

Sanctions relief would help Venezuela rebuild its oil industry and allow its crude to start flowing to global markets again, including to the U.S., which used to be Venezuela's No. 1 buyer.

When Trump first imposed financial sanctions and an export embargo, oil production in Venezuela plummeted from 1.9 million barrels per day in 2017 — a level already weighed down by a lack of ...

Venezuela's loss of a key U.S. license that allowed it to freely export and increase investment in its oil sector will hit the volume and quality of its crude and fuel sales while prompting a ...

The Biden administration will reimpose broad sanctions on Venezuela’s oil industry after the country’s strongman leader, Nicolas Maduro, failed to honor commitments signed in Barbados last ...

The U.S. administration has reinstated sanctions on Venezuela's oil and gas sector, accusing President Nicolás Maduro of failing to commit to free and fair elections.

Worse, Treasury hasn’t revoked its 2022 general license for Chevron Corp. to export oil from Venezuela. Chevron’s production is generating more than $100 million a month in income to the ...