Economy - Guacamaya

Venezuela Reduces Work Hours Due to Energy Crisis: Thermoelectric Plants Out of Service

Luis Alejandro Ruiz7 months ago7 months ago05 mins

The Venezuelan government will implement a reduction in the public sector workday to four and a half hours per day, along with a “1×1” work schedule (one day on, one day off), starting this Monday, citing a “climate emergency” affecting hydroelectric reservoirs. However, experts argue that the measure exposes the collapse of the country’s thermoelectric system, which has been neglected due to lack of maintenance.

Venezuela’s Black Market Exchange Rate Soars to Bs 95.60 per U.S. Dollar Amid Institutional Silence

Luis Alejandro Ruiz7 months ago7 months ago04 mins

The informal exchange rate closed this Tuesday, March 25, at Bs. 95.60 per dollar, marking a historic 40% gap compared to the official rate (Bs. 68.39) and nearing the 100-bolivar threshold.

OFAC Extends Chevron’s Deadline to Exit Venezuela until May 27

Luis Alejandro Ruiz7 months ago7 months ago03 mins

In January 2025, crude oil production from joint ventures between Pdvsa and the U.S. corporation Chevron reached approximately 242,000 barrels…

Trump Announces Tariffs on Countries That Buy Venezuelan Oil

Elias Ferrer7 months ago7 months ago03 mins

The President of the United States, Donald Trump, announced on Monday that he will impose a 25% tariff on all countries that buy oil and gas from Venezuela.

Reuters: Shell Accelerates Dragon Gas Project in Venezuela under Threat of US Sanctions

Luis Alejandro Ruiz7 months ago7 months ago012 mins

In a move with significant geopolitical and energy implications, Shell has brought forward the production timeline for the Dragon gas field in Venezuelan waters to 2026, aiming to revive the struggling industry of Trinidad and Tobago.

Chevron Seeks to Extend Deadline for Exit from Venezuela, According to WSJ

Sleither Fernández7 months ago7 months ago04 mins

Official photograph of Mike Wirth, CEO of the American energy giant Chevron. Guacamaya, March 20, 2025. Chevron’s CEO, Mike Wirth,…

Bessent’s Contradiction: “The Sanctions Regime Was Undermining the Dollar’s Reserve Status”

Elias Ferrer7 months ago7 months ago03 mins

U.S. Treasury Secretary Scott Bessent is facing a personal dilemma. He has repeatedly stated that sanctions are being overused, yet he defends their use to compel rival states to negotiate.

Economist Asdrúbal Oliveros Warns that Inflation in Venezuela is Rising Faster than Expected

Sleither Fernández8 months ago8 months ago03 mins

During his participation in the Economic Agenda of Román Lozinski on the Éxitos circuit, the partner-director of Ecoanalítica, Asdrúbal Oliveros, warned this Wednesday about the accelerated rise in inflation in Venezuela. According to Oliveros, inflation has shown a significant rebound in recent months, reversing the downward trend observed at the beginning of last year.

Capriles: Chevron’s Exit from Venezuela Could Open the Door to Energy Mafias

Sleither Fernández8 months ago8 months ago03 mins

Henrique Capriles Radonski is known for his pragmatic approach, with supporters who value his experience and critics who accuse him…

OPEC: Venezuelan Crude Production Remains Stable in February

Elias Ferrer8 months ago8 months ago03 mins

Venezuela’s crude oil production remained stable in February at 1,025,000 barrels per day (bpd), with a slight decrease of 6,000 bpd, according to PDVSA’s estimates.