The Daily Journal.- Oil prices started the week higher as the market grew increasingly skeptical about a potential agreement in the Middle East to reopen the Strait of Hormuz. North Sea Brent crude for October delivery rose 1.29% to $83.55 per barrel. Its U.S. counterpart, West Texas Intermediate (WTI) crude for September delivery, gained 1.15% […]
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The Daily Journal.- Oil prices rose on Friday amid growing uncertainty over a potential agreement between Iran and Oman to reopen the Strait of Hormuz. The market, which had hoped for an imminent solution earlier in the week, turned nervous again after Tehran signaled its intention to ban U.S. and Israeli vessels from passing through […]
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The Daily Journal – Nearly two months after the two major earthquakes that devastated parts of the country on June 24, the Venezuelan Confederation of Industrialists (Conindustria), the Venezuelan Chamber of Construction (CVC) and the United Nations Development Programme (UNDP) held a high-level meeting to define the operational and strategic phases of Venezuela’s Reconstruction Plan, […]
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The Daily Journal.- Following the June 24 seismic event, concerns over housing safety, the future of construction projects, and protections for tenants and property owners have moved to the center of the legislative debate. Amid speculation about potential land seizures in high-risk areas or expedited evictions, lawmaker Alejandra Rodríguez, second vice president of the Special […]
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The Daily Journal.- Rebuilding Venezuela’s energy infrastructure, which has suffered severe damage from corrosion and years of accumulated deterioration, will require multibillion-dollar investments that industry estimates place between US$100 billion and US$220 billion. Economist Francisco Monaldi, director of the Latin America Energy Program at Rice University’s Baker Institute for Public Policy, estimates that the minimum […]
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The Daily Journal — The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued General License 5Y on Monday, authorizing certain transactions related to the 8.5% PDVSA 2020 bond, effective September 17, 2026. The new license replaces General License 5X, which OFAC issued on June 18, 2026, and which had set August […]
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The Daily Journal — U.S. President Donald Trump praised Chevron’s return to Venezuela and said the American oil company now operates in the country “much bigger and stronger than ever,” with expectations of generating substantial profits. He credited his administration’s policies for the company’s performance. “They threw Mike and Chevron out of Venezuela, but now […]
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The Daily Journal — Venezuela would need between $1.6 billion and $2.3 billion to restore its aluminum industry, according to estimates that industry experts presented during a conference organized by the IDEAS for Venezuela Group. Roberto Arredondo, an international aluminum market specialist, said the latest estimate exceeds the figures from a 2024 McKinsey study, which […]
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The Daily Journal — Venezuela’s oil exports declined in July as demand from India weakened after the ceasefire in the conflict involving Iran allowed Middle Eastern crude cargoes stranded in the Persian Gulf to reach international markets, Bloomberg reported. July data tracked by Kpler Ltd. show that shipments of Venezuelan crude to India, one of […]
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The Daily Journal — Food conglomerate Grupo Nutresa expects Venezuela to become one of its main growth engines within the next two to three years, according to company president and banker Jaime Gilinski in an interview published by El Colombiano. The company’s strategy in Venezuela includes the acquisition of the Tío Rico ice cream brand […]
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