Unstable oil prices have already eaten into the many economies and big consumers like US and European countries are accusing Iran, Iraq, Russia and Venezuela for it.
If the western countries' allegations are right than we should praise...
Tag - Hugo Chavez
After nationalizing country's oil reserve, Venezuela government has forced foreign oil drillers to sign a pact, in which they will sell their majority stakes to state-run Petroleos de Venezuela, S.A.
New norms have forced to change hands as...
Love him or hate him, but you have to like the way he flaunts his oil reserves. The fact that Venezuela has the largest proven oil reserves outside of the Mid-east has permitted Hugo Chavez (Venezuela's President) to do a lot of things which he...
Venezuela, the world's largest known single petroleum deposit, took over its last privately run oil fields yesterday, along with electricity companies and the country's biggest telecommunications company, which could intensify a power struggle in...
Venezuelan President Hugo Chavez urged OPEC countries to stop trading in dollars in order to end the dictatorship of this currency. However, Iran is already selling oil in euros in place of dollars. Obviously selling oil in euros would definitely...
In a time when the world is panic-stricken due to spiking oil prices, Venezuelan President Hugo Chavez is likely to go for a cut in oil production. In the run up to the OPEC meeting, this can sent shock waves to many countries fearing a drop in the oil...
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