Economy Archives - Page 10 of 19

Construction Chamber proposes independent oversight for international reconstruction funds and reforms to attract private investment

July 16, 2026July 16, 2026Tatiana Da GamaLeave a Comment

The Daily Journal. — The Venezuelan Chamber of Construction (CVC) has proposed creating an independent mechanism to oversee the use of international funds allocated for Venezuela’s reconstruction following the June 24 earthquakes. The organization also called for a series of regulatory and tax reforms to revive private investment in the construction sector. During a press […]

Private banks waive point-of-sale transaction fees for 90 days in La Guaira

July 16, 2026July 16, 2026Tatiana Da GamaLeave a Comment

The Daily Journal. — Three weeks after the earthquakes that struck north-central Venezuela, the Venezuelan Banking Association (Asobanca) announced financial relief measures for businesses in La Guaira state. The banking association reported that about 40% of the 12,300 point-of-sale terminals operated by private banks in the state are currently processing commercial transactions. According to Asobanca, […]

Cirion Technologies dispatches vessel to repair submarine cable damaged by earthquakes

July 16, 2026July 16, 2026Tatiana Da GamaLeave a Comment

The Daily Journal. — Digital infrastructure company Cirion Technologies announced that the specialized vessel assigned to repair the submarine cable connecting Venezuela to international networks is already heading toward Venezuelan waters. The operation aims to fully restore connectivity disrupted by the earthquakes that struck on June 24. The company said in a statement that the […]

Shell launches bidding process for Dragon Field drilling project

July 16, 2026July 16, 2026Tatiana Da GamaLeave a Comment

The Daily Journal. — Energy company Shell has launched the bidding process to hire drilling services for the Dragon gas field project in eastern Venezuela. Sources familiar with the process told Reuters that the plan calls for drilling four wells in the area beginning in the second quarter of 2027. The sources said Shell expects […]

Oil production reaches 1.2 million barrels per day

July 14, 2026July 14, 2026Tatiana Da GamaLeave a Comment

The Daily Journal — Venezuela’s Acting President Delcy Rodríguez said on Monday that the economic impact of the June 24 earthquakes remained “localized” and stated that the country’s main sources of revenue continue to grow, including oil production, which she said has reached 1.2 million barrels per day. Speaking at a National Economic Council meeting […]

Inflation doubles in June, reaches 13.8%

July 13, 2026July 13, 2026Tatiana Da GamaLeave a Comment

The Daily Journal — Inflation in Venezuela reversed its slowdown in June, returning to double-digit monthly levels, according to figures from the National Consumer Price Index (NCPI). The index recorded a 13.8% increase in the sixth month of the year, more than double the 6.3% posted in May. The rebound ended four consecutive months of […]

Rules Determine Who Takes Advantage of the Opportunities

July 11, 2026July 11, 2026Valeria OlivaresLeave a Comment

Listen to the audio of the Editorial Summary here: https://clyp.it/mdkelqzu Julio A. López, Editor-in-Chief. — Geology does not write checks, drill wells, or rebuild pipelines. Venezuela has oil and gas, including known oil and gas fields. The problem lies in converting that geological wealth into financeable projects, production, employment, taxes, and infrastructure. The legal reform opened […]

Reconstruction exceeds Venezuela’s fiscal capacity, José Guerra warns

July 11, 2026July 11, 2026Tatiana Da GamaLeave a Comment

The Daily Journal — Rebuilding the areas devastated by the June 24 earthquakes exceeds the Venezuelan government’s fiscal capacity and will require the country to secure extraordinary sources of financing to cover an investment that could reach $15 billion, economist José Guerra said. The former congressman argued that the deterioration of public finances prevents the […]

Venezuela Expands Private-Sector Space in the Oil Sector

July 10, 2026July 10, 2026Valeria OlivaresLeave a Comment

Audio summary of the news article: https://clyp.it/l3hja4yp PDF of the Regulations of the Organic Hydrocarbons Law: https://drive.google.com/file/d/1j6NvstM1su_GMrxLxW82bveTjvVBdm1X/view?usp=sharing Julio A. López, Editor-in-Chief. — Geology does not write checks, drill wells, or rebuild pipelines. Venezuela has oil and gas, including known oil and gas fields. The problem lies in converting that geological wealth into financeable projects, production, employment, taxes, […]

Venezuela has the gas, but it still needs to build the market

July 9, 2026July 9, 2026Tatiana Da GamaLeave a Comment

By Julio A. López, Editor-in-Chief — Venezuela’s map of gas transportation projects reveals far more than a network of pipelines. It illustrates the scale of the challenge the country faces in transforming its vast natural gas resources into an efficient supply for households, industries, power plants, petrochemical complexes, and eventually, export markets. The first conclusion […]