PDVSA now requires prepayment in USDT for half of each oil cargo's value. Venezuela's use of cryptocurrency aims to prevent frozen assets in foreign banks. Shift to digital currency began in 2023, ...
Venezuelan Oil Minister Pedro Tellechea confirmed the adoption of various currencies, including digital ones, in accordance with contractual agreements. Venezuela's state-owned ... a contractual model ...
Corruption in Venezuela's oil industry is a many-headed monster that has devoured billions of dollars in taxpayers' money in the past 20 years, experts say. Long the country's only notable export ...
(Ariana Cubillos/AP) The Biden administration will reimpose oil and gas sanctions on Venezuela after President Nicolás Maduro failed to comply with a U.S.-backed agreement to allow opposition ...
The oil and gas industries are the most profitable industries of the country. Venezuela has the largest crude oil reserves worldwide, but the country's oil production has plummeted in recent years ...
The U.S. will not renew a temporary license that widely eased sanctions on Venezuela's oil and gas sector unless progress is made by President Nicolas Maduro on commitments for free and fair elections ...
(Credit: WEF / Boris Baldinger) This week, Petro was in Venezuela with Nicolás Maduro — and oil and gas topped the agenda. The gas pipeline from Venezuela has been out of action since 2014 and ...
Prompted by renewed US oil sanctions, Venezuela’s state-controlled oil company PDVSA intends to boost its use of digital currencies in crude oil and fuel exports, Reuters reported on Monday. The ...
The Biden administration reimposed oil sanctions on Venezuela in response to what the U.S. calls President Nicolas Maduro's failure to deliver on election promises. Maduro dismissed the oil sanctions ...
Venezuela’s government arrested two high-level energy officials on Sunday following the detention of a former oil minister amid an investigation into billions of lost Petroleos de Venezuela SA ...