Tag: Venezuela

The Andes
ledrapeau

FLAM

The Venezuelan government is responsible for the "worst human rights crisis in its history," intentionally using lethal force against the most vulnerable in society, Amnesty International said as it published its latest research into violence and systematic abuses in the country. The report charges that the Venezuelan government is failing to protect its people amid alarming levels of insecurity in the country, instead implementing repressive and deadly measures. (Photo: WikiMedia Commons)

The Andes
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GUATE2

Faced with declining production and economic chaos, Venezuela is again opening its oil-fields to private companies—reversing much of the progress in asserting state control of the hydrocarbons industry that was made under Hugo Chávez. Just after a series of new contracts with private firms was announced, President Nicolás Maduro flew to Beijing for a meeting with Xi Jinping. The two leaders announced further deals to open Venezuela's Orinoco Belt to Chinese companies. This comes a decade after Exxon withdrew from the Orinoco Belt, unable to come to terms with the Chávez government. (Photo via OilPrice.com)

Iran
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Tulku Phurbu Tsering Rinpoche

After all the talk we've heard in recent years about how depressed oil prices are now permanent, in the wake of Trump's announced withdrawal from the Iran nuclear deal Bank of America is predicting that the price of Brent crude could go as high as the once-dreaded $100 per barrel in 2019. The report also cited collapsing production in Venezuela due to the crisis there. Brent prices have risen above $77 per barrel since Trump's announcement. Prices have jumped more than 8% over the past month and 15% since the beginning of the year. According to the analysis, investors fear that renewed sanctions on Iran could lead to supply disruptions. Although the report failed to mention it, the Israeli air-strikes on Iranian targets in Syria have doubtless contributed to the jitters.  (Photo: Shana)