The Daily Journal.- Polish state-owned oil company Orlen lost at least US$424 million in a failed deal to acquire six million barrels of Venezuelan crude, in a transaction that involved a US$230 million advance payment, cryptocurrency and a network of intermediaries in Dubai and Venezuela, according to an investigation published by the Financial Times. Orlen’s […]
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The Daily Journal. — The United Nations Independent International Fact-Finding Mission on Venezuela said Wednesday that, despite a decline in some forms of repression and the release of hundreds of people detained for political reasons, state structures linked to serious human rights violations and crimes against humanity remain essentially intact. In its latest report and […]
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The Daily Journal.- Venezuela will need an estimated US$21 billion to recover from the earthquakes that struck the country on June 24, according to the Post-Disaster Needs Assessment (PDNA) that the United Nations Development Program (UNDP) presented Tuesday in Caracas. The amount covers “measures to build back better, ensure resilience and reduce risk conditions,” UNDP […]
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— Oil investments carry risks, just like any other investment. However, when a field has produced oil continuously for more than a century and accumulated nearly 950 million barrels of historical production, the past becomes more than history: it becomes a powerful tool for assessing the economic viability of future operations. That is one of […]
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The proposal aims to promote the scientific, technological and productive development of the Global South The Daily Journal.- Science and Technology Minister Yván Gil Pinto led Venezuela’s delegation at the 70th General Conference of the International Atomic Energy Agency (IAEA), where he proposed strengthening international nuclear cooperation and advocated equitable access to the peaceful uses […]
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The Daily Journal.- The Central Bank of Venezuela (BCV) will raise the minimum interest rates that banks must pay on deposits starting Sept. 15, in a move aimed at making savings in bolivars more attractive and strengthening monetary policy transmission. Under the new rules, all bank deposits will earn interest, including funds held in checking […]
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The Daily Journal.- Vargas Hospital in Caracas received medical equipment and supplies from the U.S.-based organization Project C.U.R.E. as part of a nine-ton shipment valued at nearly $750,000. U.S. Chargé d’Affaires in Caracas John Barrett announced the donation. They said the shipment includes surgical, trauma, and gynecological equipment, as well as patient transport materials, respiratory […]
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The reform of the Organic Hydrocarbons Law reduced the National Assembly’s role in approving oil deals. At the same time, the technical terms of the agreement announced between Venezuela and the United States remain unpublished. Legal scholar Mariana Campos warns that parliamentary oversight has not disappeared; it must be exercised over implementation. Neirlay Andrade The […]
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The Daily Journal.— Authorities relocated more than 86,000 students to different schools in Caracas and other Venezuelan states due to damage caused by the earthquakes that struck on June 24, acting President Delcy Rodríguez said Monday during the start of the new academic year. “We relocated them so that everyone can attend classes,” Rodríguez said […]
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The Daily Journal.— Former Venezuelan Industries Minister Alex Saab plans to plead guilty Tuesday before a federal court in Miami in a money laundering case involving government food-import contracts, The Associated Press (AP) reported. Saab, 54, will appear before U.S. District Judge Kathleen Williams for a change-of-plea hearing, according to court records cited by AP. […]
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