The Daily Journal.— Venezuelan-owned U.S. refiner Citgo Petroleum reported a net profit of $936 million in the second quarter of the year, sharply higher than the $100 million it reported during the same period a year earlier, according to Reuters. Developments in the international energy market drove the company’s stronger financial results, “amid stronger refining […]
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The Daily Journal.- Venezuela’s oil industry showed conflicting signals in July: while production continued to expand slightly, crude exports fell sharply, according to OPEC’s monthly report and shipping data. Secondary sources cited by OPEC placed Venezuelan production at 1.117 million barrels per day (bpd) in July, just 13,000 bpd above June’s 1.104 million bpd. The […]
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The Daily Journal.- Acting President Delcy Rodríguez on Wednesday welcomed the first agreement reached in the dialogue process between her administration and the National Assembly elected in 2015. “I welcome and celebrate this first step in the dialogue process with the opposition sector represented in the National Assembly elected in 2015,” Rodríguez said in a […]
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The Daily Journal. — The administration of Delcy Rodríguez and the National Assembly elected in 2015 agreed to focus their efforts on recovering Venezuela’s international reserve assets held at the Bank of England, as part of the agreements reached during the first round of talks between the two sides. The commitment forms part of the […]
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The Daily Journal. — The Venezuelan government and the National Assembly elected in 2015 agreed to launch a new process to transform the justice system. The plan calls for reforms to the Organic Law of the Supreme Court of Justice (TSJ), the renewal of the Judicial Nominations Committee, and a new call for candidates to […]
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The Daily Journal.- Inflation in Venezuela accelerated for the second consecutive month, reaching 19.9% in July, up from 13.8% in June, according to the National Consumer Price Index (INPC) published by the Central Bank of Venezuela (BCV). The figure marks the highest monthly level since January and confirms a shift in trend after four consecutive […]
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The Daily Journal.- Venezuela’s oil production averaged 1.2 million barrels per day in July, up 1.09% from June, according to official figures cited by the Organization of the Petroleum Exporting Countries (OPEC) and reported by EFE. Output rose from 1.187 million barrels per day in June to 1.2 million in July, according to OPEC’s monthly […]
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Juan Barreto – Director of The Daily Journal for Venezuela and Latin America Today is a wonderful and strange day from both an astronomical and astrological point of view. Today, we have the Perseids, a shower of shooting stars crossing the sky, while Europe will witness a solar eclipse, along with a planetary alignment. Let […]
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The Daily Journal – The debate over restoring purchasing power in Venezuela often becomes trapped in a recurring dogma: the premise that any wage increase inevitably leads to an inflationary spiral or the collapse of the productive apparatus. Neoclassical orthodoxy argues that the State or the private sector does not “have the money” to pay […]
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EFE.- Israeli Foreign Minister Gideon Saar on Tuesday described his country’s decision to resume consular relations with Venezuela as “another piece of good news from South America,” referring to Colombia’s recent recognition of Israeli sovereignty over the Syrian Golan Heights. “Another piece of good news from South America: the resumption of consular relations between Israel […]
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