Gustavo Petro Wants Ecopetrol to Buy Monómeros
Colombian President Gustavo Petro has proposed that the state-owned energy company Ecopetrol purchase the fertilizer producer Monómeros, owned by Petróleos de Venezuela, S.A. (PDVSA).
Economy
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Reuters: Venezuela’s Oil Exports Drop 20% in April Due to Chevron’s Exit
Reuters estimates that Venezuela’s oil exports fell by 20% in April, averaging 700,000 barrels per day (bpd). This would be the lowest level in nine months.
Central Bank of Venezuela: Economy Grew by 9.32% in the First Quarter
The Central Bank of Venezuela (BCV) reported on Thursday that the Venezuelan economy grew by 9.32% in the first quarter of 2025. However, this figure drastically differs from estimates by multilateral or non-governmental organizations, which predict a recession this year.
Maduro Announces Increase in “Comprehensive Minimum Income” Without Adjusting Wages
Venezuelan President Nicolás Maduro announced on Wednesday an increase in the “Ingreso Mínimo Integral” or “Comprehensive Minimum Income” (IMI) from 130 to 160 U.S. dollars—according to the official exchange rate—on the occasion of Labor Day.
New Trinidad Prime Minister Will Still Seek Venezuelan Gas
The new government of Trinidad and Tobago said that it will open discussions with Washington DC to access gas fields across the sea border with Venezuela, as reported by Argus.
Repsol in Talks with U.S. to Maintain Operations in Venezuela
This Wednesday, Josu Jon Imaz, CEO of Repsol, shared that the Spanish company is in direct talks with the U.S. government to continue operating in Venezuela.
UNDP Estimates 6.5% Economic Growth in 2024 and Forecasts a 1.3% Contraction in 2025
The report published by the United Nations Development Programme (UNDP) states that Venezuela ended 2024 with growth driven by oil expansion, but the country faces an uncertain 2025 following the withdrawal of Chevron’s and other oil companies’ licenses.
OVF Estimates Venezuelan Economic Activity Fell by 2.7% in Q1 2025
Quarterly economic activity growth rates, according to the Venezuelan Finance Observatory (OVF), since 2022. Guacayama, April 25, 2025. The Venezuelan…
Venezuela and China Strengthen Alliance as Two Vice Presidents Meet in Beijing
The Executive Vice President of the Bolivarian Republic of Venezuela, Delcy Rodríguez, was received at the Great Hall of the…
Venezuelan Crude Production Rises in March as OPEC+ Output Falls
Crude oil production rose to its highest level since February 2019, reaching 1,085,000 barrels per day (bpd), according to internal reports from PDVSA.