The Daily Journal. — U.S. Secretary of State Marco Rubio on Friday endorsed the bilateral energy agreement with Venezuela, which gives Washington majority control over 17 strategic oil fields with proven potential of 65 billion barrels of reserves. “This agreement is a major win for both the American and Venezuelan people,” the top U.S. diplomat […]
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The Daily Journal.- Venezuela’s private industrial sector recorded 8.1% year-over-year growth in production volume during the first half of 2026, driven by gains of 9.9% in the first quarter and 6.5% in the second quarter, the Venezuelan Confederation of Industrialists (Conindustria) reported as it presented its Industrial Economic Survey for the second quarter of 2026 […]
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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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The Daily Journal.— The United Nations Development Program (UNDP) projects that Venezuela’s Gross Domestic Product (GDP) will grow by approximately 6.5% by the end of 2026, supported by stronger oil activity and greater access to private capital, even as the country faces estimated inflation of 385%. The multilateral organization presented the estimate in its Venezuela […]
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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 — A preliminary rapid damage assessment released Thursday by the World Bank estimates that the June 24, 2026 earthquakes caused $19.579 billion in direct damage to physical assets across Venezuela. The report, Global Rapid Post-Disaster Damage Estimation (GRADE) Report: Venezuela Earthquakes – June 24, 2026, states that the disaster destroyed approximately 1.39% […]
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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 […]
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The Daily Journal. — Fedecámaras President Felipe Capozzolo stressed the importance of strengthening the production chains of the construction, apparel, and textile sectors to accelerate the rapid reintegration of everyone affected by the twin earthquakes that struck Venezuela on June 24. Capozzolo emphasized the need to guarantee housing and employment so people affected by the […]
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The Daily Journal — Economist Asdrúbal Oliveros has brought a sobering reality to the forefront, one that forces the country to look beyond the physical destruction and the undeniable human tragedy. The recent earthquake has carved a deep crack into Venezuela’s already fragile financial structure. According to the analyst’s preliminary estimates, the material losses are […]
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