Economy - Guacamaya

U.S. Court Official Recommends Gold Reserve’s Bid in Auction for Citgo Parent

A U.S. court official overseeing the auction of PDV Holdings, the parent company of Citgo Petroleum, has recommended the $7.38 billion bid.

Russia Builds Ammunition Factory in Venezuela

Elias Ferrer1 year ago1 year ago02 mins

A Russian state-owned company has completed the first phase of an ammunition factory in Venezuela, which will supply the country’s armed forces and security agencies.

REUTERS: Venezuela Redirects Oil Exports to China Following U.S. Sanctions

Luis Alejandro Ruiz1 year ago1 year ago03 mins

Venezuela’s oil exports rose by 8% in June, reaching an average of 844,000 barrels per day (bpd), driven by a significant increase in shipments to China. The uptick helped offset the country’s loss of access to U.S. and European markets after Washington revoked key licenses.

Ministry of Transport to recover Portuguesa – Lara – Puerto Cabello cargo train

Elias Ferrer1 year ago1 year ago02 mins

The government has announced that it will launch a cargo train to connect Araure, Portuguesa and Barquisimeto, Lara with the docks at Puerto Cabello, Carabobo.

Maduro Claims Venezuela’s Certified Oil Reserves Increased by 30%—What Do We Know?

Elias Ferrer1 year ago1 year ago03 mins

In his weekly program Con Maduro +, the Venezuelan president claimed that the country’s certified oil reserves have increased by 30%.

St. Petersburg Hosts SPIEF 2025 with a Focus on International Cooperation, Innovation, and Economic Challenges

Luis Alejandro Ruiz1 year ago1 year ago011 mins

On Wednesday, the 28th edition of the St. Petersburg International Economic Forum (SPIEF) kicked off, bringing together over 20,000 delegates from 140 countries, including Venezuela, Brazil, Mexico, and Cuba. In a world marked by conflicts, sanctions, and shifting alliances, the forum has reaffirmed itself as a vital platform for Russia to pursue international cooperation, offer an economic alternative, and strengthen strategic ties with partners in the Global South to break Western efforts to isolate it. SPIEF is often described as the “Russian Davos,” that is, the Russian counterpart to the World Economic Forum held annually in Davos, Switzerland.