The Daily Journal.— Venezuela’s Gross Domestic Product (GDP) grew 7.14% in the second quarter of 2026 compared with the same period a year earlier, the Central Bank of Venezuela (BCV) reported. The country has now recorded 21 consecutive quarters of economic growth. According to the central bank, the result further consolidates the recovery of the […]
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The Daily Journal.— Venezuela continues to record the world’s highest inflation rate in 2026, and according to economist Manuel Sutherland, the expansion of the monetary base represents one of the main factors driving the acceleration in prices. In his latest analysis, Sutherland estimates that Venezuela’s year-on-year inflation reached 576% between July 2025 and July 2026, […]
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The Daily Journal.— U.S. Deputy Secretary of Energy Kyle Haustveit revealed that the United States currently receives more than 500,000 barrels of oil per day from Venezuela, representing nearly 50% of the South American country’s total production. “In recent months, we have seen more than 500,000 barrels, roughly half of Venezuelan production, exported to the […]
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The Daily Journal.— The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) added Bluwaves Properties Limited, a company registered in the British Virgin Islands, to its Specially Designated Nationals and Blocked Persons (SDN) List. The company belongs to Harry Sargeant III, a Florida energy magnate who has long served as a channel […]
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Julio A. López, Editor-in-Chief.— Venezuela’s offshore gas map is being redrawn. Chevron transferred its licenses in Blocks 2 and 3 of the Deltana Platform — home to the Loran and Macuira gas fields — to Pdvsa in exchange for strengthening its position in the Orinoco Belt’s heavy crude sector. Weeks later, BP moved into that […]
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The Daily Journal.— The Family Food Basket (CAF) cost $727.89 in July, equivalent to 516,804.22 bolivars, according to Óscar Meza, director of the Documentation and Social Analysis Center of the Venezuelan Federation of Teachers (Cendas-FVM). According to the institution’s monthly report, the price in U.S. dollars fell by 3.77%, or $28.56, compared with June. In […]
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The Daily Journal.- India’s state-owned Oil and Natural Gas Corporation (ONGC) obtained a license from the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) to fully resume operations in Venezuela, a senior company executive told The Economic Times. According to the Indian newspaper, the U.S. authorization clears the way for ONGC to “increase production, […]
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The Daily Journal.— U.S. refiner Citgo posted record exports of ultra-low-sulfur diesel (ULSD) from its Brownsville, Texas, terminal during the second quarter, as the prolonged war between the United States and Iran continued to restrict global supplies of the fuel. According to the company’s earnings release, second-quarter ULSD export sales in Brownsville more than doubled […]
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The Daily Journal. — The Central Bank of Venezuela (BCV) held a high-level meeting with representatives of Numisma Bank. This U.S. financial institution specializes exclusively in wholesale banknote services and explored strategic partnerships to optimize the country’s financial operations. According to an institutional statement from the BCV, both delegations discussed an agenda to ensure smooth […]
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The Daily Journal. — Héctor Obregón Pérez, president of Petróleos de Venezuela (PDVSA), said the state-owned oil company has maintained a continuous investment plan since 2024 aimed at restoring its processing facilities to independently meet the country’s entire demand for gasoline and diesel. As a result, Venezuela’s refining system currently has a capacity of 350,000 […]
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