Freedom Watch demonstrators will carry placards warning OPEC at its emergency meeting here Thursday that any vote to drain more billions of dollars from the U.S. economy at a time when it teeters on the edge of a deep recession, “risks enraging Joe the Plumber.”
The demonstration led by Freedom Watch Founder Larry Klayman will follow [...]
Venezuela began taking a bigger cut of foreign oil companies’ windfall profits, as a higher tax on those earnings went into effect.
Under a law approved Tuesday by the National Assembly, President Hugo Chavez’s government is charging a 50 percent tax on additional earnings when crude prices pass $70 per-barrel and 60 percent on additional earnings [...]
President Hugo Chavez said Thursday that his government has approved funding to build an iron and nickel foundry with Cuba.
Cuba is among the world’s largest producers of nickel, which is used to make stainless steel. Venezuela and Cuba signed an agreement last year to produce stainless steel using Cuban nickel–a project slated to involve some [...]
Venezuela moved closer to nationalizing its oil-rich Orinoco River basin, after four foreign oil companies signed deals giving Venezuela the lion’s share of the profits and two US companies pulled out altogether.
“ExxonMobil and ConocoPhillips are ending their participation in the exploration ventures,” Oil and Energy Minister Rafael Ramirez said Tuesday at the signing ceremony with [...]
Oil giants ConocoPhillips and Exxon Mobil Corp. are set to withdraw from their joint venture projects in Venezuela’s Orinoco basin.
The two companies refused to sign deals Tuesday that would see the Venezuelan government taking majority stakes in their Orinoco projects.
Four other oil majors, U.S.-based Chevron Corp.; Britain’s BP Plc; France’s Total SA; and Norway’s Statoil [...]
Venezuela, which this week announced plans to nationalize 18 oil rigs operated by international companies, wants to establish a Latin American oil and gas drilling corporation.
Such a company would give Petroleos de Venezuela and other Central and South American oil companies an alternative to North American rig operators, seismic providers and service firms, Bernardo [...]
President Hugo Chavez said Sunday that Venezuela hopes to gradually sell off its refineries in the United States and build a new network of refineries in Latin America, part of a plan to offer his leftist allies in the region a stable oil supply.
Chavez also raised the idea of issuing a regional bond to raise [...]
Petroleo Brasileiro SA, Brazil’s state-controlled oil company, plans to promote a South America- wide network of natural gas pipelines to reduce costs in the region and increase energy exports.
Rio de Janeiro-based Petrobras is studying a plan that would begin by extending pipelines in the southern half of the continent, Ildo Sauer, the company’s gas chief, [...]
Venezuelan President Hugo Chavez’s proposal for a South American organization of natural gas producers based on the oil-exporting cartel OPEC baffled analysts contemplating the announcement.
Chavez said on his radio talk show late Thursday that he had spoken to Argentine President Nestor Kirchner about the idea of forming “a kind of Organization of Gas Exporting and [...]
Venezuelan lawmakers said Monday they would give President Hugo Chavez special powers to make changes to the country’s oil, gas and electricity industries by presidential decree.
National Assembly President Cilia Flores said lawmakers loyal to Chavez would approve an “enabling law” allowing the leader to pass measures by decree for 18 months in the “energy sphere” [...]
