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 — Fluxus Oil, Gas & Energy, owned by Brazilian businessmen Joesley and Wesley Batista, has acquired a stake in a Venezuelan oil production project, according to a Bloomberg report. The transaction adds to a series of private agreements that have emerged following the sanctions relief promoted by the administration of U.S. President […]
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The Daily Journal — Acting President Delcy Rodríguez met on Wednesday with Gianluca Rampolla, the United Nations Resident Coordinator in Venezuela, to define the recovery and assistance plan for the victims of the earthquakes that struck the country on June 24. Officials held the meeting in Caracas to strengthen the humanitarian response framework, reinforce transparency, […]
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Bloomberg — Pacific Coast Energy Co. (PCEC), a small California-based oil producer, is close to securing an agreement to develop Venezuelan oil fields as the U.S.-backed government in Caracas pushes prospective partners to sign contracts before the end of July. PCEC is one of several companies negotiating joint ventures and production-sharing agreements with Petróleos de […]
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The Daily Journal — U.S. investment firm Lionheart Capital is close to finalizing a $400 million agreement to acquire a stake in the PetroUrdaneta oil field, according to a Bloomberg report. Bloomberg reported that Miami-based Lionheart “signed a non-binding letter of intent with Swedish firm Keo Capital AB, which holds an interest in PetroUrdaneta.” Transaction […]
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The Daily Journal — U.S. refineries are increasing their purchases of Venezuelan crude oil, putting imports on track to reach their highest level in nearly a decade, according to a report by Bloomberg. Refineries along the U.S. Gulf Coast have stepped up acquisitions to secure heavy crude supplies as wildfires in Canada threaten logistics and […]
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The Daily Journal — Judge Lauren F. Louis of the U.S. District Court for the Southern District of Florida granted former minister Alex Saab permission to skip Friday’s scheduled hearing in the money laundering case against him in the United States. Saab’s defense team also requested that the court enter a not guilty plea on […]
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The Daily Journal — The recent earthquakes dealt a devastating blow to the productive sector in La Guaira. Of the 7,000 businesses that operated across the state before the disaster, only 1,752 establishments—or 25%—remain standing, according to preliminary results from the first phase of the commercial census presented by Governor José Alejandro Terán. During a […]
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The Daily Journal — Major refineries and energy companies in the United States, Europe, and Asia are increasing their direct purchases of Venezuelan crude from Petróleos de Venezuela S.A. (PDVSA). According to a Reuters investigation, this strategy is beginning to reduce the role of the large trading houses that dominated the country’s oil exports during […]
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EFE – Prosecutors in the U.S. District Court for the Southern District of New York proposed Tuesday that the trial of former Venezuelan President Nicolás Maduro and his wife, Cilia Flores, who face drug trafficking charges, begin in June 2027, according to a filing submitted to a federal court in New York. The proposal comes […]
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