Venezuela, Kuwait assess strategies to increase oil prices

Venezuelan Foreign Minister Delcy Rodríguez also met with the Minister of Petroleum of Saudi Arabia

The Venezuelan Minister of Foreign Affairs, Delcy Rodríguez, and Kuwait's Minister of Petroleum, Al Omair, met on Sunday to ponder strategies to stabilize dwindling oil prices.

Later, Minister Rodríguez commented that she had also met with Saudi Arabian Minister of Petroleum, Al Naimi, to review proposals to strengthen the oil market, harmed by the increase in oil production in countries such as the United States, state-run news agency AVN reported.

Seeking agreements among oil nations, Venezuelan President Nicolás Maduro went on an international tour including China, Russia, and several Member States of the Organization of Petroleum Exporting Countries (OPEC), with a view to stabilizing oil prices and entering into strategic alliances.

Source: http://www.eluniversal.com/

Venezuela to open an embassy in Kazakhstan

Venezuelan authorities did not specify when the embassy would be opened in Astana, the capital of Kazakhstan

Venezuela will formalize diplomatic relations with former Soviet nation Kazakhstan by opening an embassy in that country.

The decision was announced by Venezuelan Foreign Minister, Delcy Rodríguez, during her visit to that nation, in the context of a tour aimed at getting international funding to contain the current decline in oil prices.

Kazakhstan is a Eurasian nation which borders with Russia, China, and Mongolia. It is rich in oil, gas, and uranium and its President, Nursultan Äbishuly Nazarbayev, is a former communist who has amended the Constitution several times to remain in office through elections.

Despite the objections made by some countries and organizations to the political regime, Kazakhstan is one of former Soviet nations that has grown and thrived in the past few years.

Source: http://www.eluniversal.com/

Oil countries teams committees to meet in Caracas

Venezuelan President Nicolás Maduro: "Sooner than later, we will manage to raise the (oil) prices".

Venezuelan President, Nicolás Maduro, upon his return to Venezuela, asserted that his 13-day tour across China, Russia, Portugal and Member States of the Organization of Petroleum Exporting Countries (OPEC) (Iran, Saudi Arabia, Qatar, and Algeria) "was fruitful and successful for the plans of economic rebirth of the country."

"As a result of the oil war, there has been an abrupt slump in crude oil prices," Maduro stated in his speech from Miraflores Presidential Palace in a mandatory radio and television broadcast. He explained that in September 2014, the Venezuelan oil basket stood at USD 96 per barrel, and that on Friday, "it hit USD 38.5 per barrel;" this "is a very important matter of concern for all of us."

"While those people (Venezuelan opposition) are making a party because of the fall of oil prices, I have been devoted to defend the Venezuelan oil, the oil market, and sooner that later we will manage to raise the (oil) prices," President Maduro said.

In addition, the President informed that this week, technical committees from OPEC and non-OPEC countries would meet in Caracas, Venezuela's capital. "Our Foreign Minister, Delcy Rodríguez, and the Minister of Petroleum and Mining, Asdrúbal Chávez, are still closing the tour in other non-OPEC countries, such as Kazakhstan and Kuwait, gathering consensus for a new stage in the market. The stockholders have changed; we need to acknowledge it and be prepared," Maduro remarked.

Source: http://www.eluniversal.com/

Spanish left-wing leader avoids delving into Chávezism

The leader rejected giving any opinion about the situation of the movement created by (late) Venezuelan President Hugo Chávez

European lawmaker Pablo Iglesias, Spanish left-wing leader of Podemos party, avoided in an interview with Spanish daily newspaper El País making any comments about Chávezism.

"The good thing is that anything happening in Venezuela will be decided by its citizens through their votes. The Spanish are not concerned about the exhaustion of Chávezism, yet some people want to talk about it to refrain from talking about Spain," Iglesias replied when queried if the movement created by (late) Venezuelan President Hugo Chávez had exhausted.

Podemos has been accused by foes of seeking to implement in Spain a similar model to that of Venezuela in the event of wining the general election expected to take place by the end of the year. Close ties have been reported between Podemos and Chávezism.

Source: http://www.eluniversal.com/

Consumers' alliance: "Supply is the underlying problem in the country"

León Parilli, president of the National Alliance of Users and Consumers (Anauco), stressed that the government needed to cope with supply issues and called for a national consensus to find solutions.

León Parilli, the president of the National Alliance of Users and Consumers (Anauco), asserted that the "underlying problem" of lines in grocery stores in Venezuela has to do with supply. He also rejected the thesis formulated by the government that citizens "have a lot of money and that there are many products available."

He stressed that in addition to fitful supply, other irregularities in the system, such as smuggling and overpriced products are the result of demand exceeding supply, "that is the truth," he said.

Parilli rejected some government officials' statements that the opposition is accountable for long lines of people trying to buy in stores.

"If the opposition is making the lines, then there is plenty of opposition, because there are many people in lines. I think nothing can lead a person to buy food in order to harm the government; there is an actual need to buy food," he stated. 

Parilli stressed that the government needed to cope with supply issues and urged the Executive Office to gather with the private sector to find a solution to the problem.

Source: http://www.eluniversal.com/

President Maduro: "I got the resources the country requires"

Venezuelan President Nicolás Maduro did not elaborate on the amount, the terms, or the specific investment areas. He added the information would be provided by the ministers

"I got the resources the country requires to keep its investment and import levels and economic stability," announced the Venezuelan President, Nicolás Maduro, after his meeting with his Russian counterpart, Vladimir Putin. 

The President referred to several agreements reached with Russia during his second visit to that country amid his presidential tour.

"We have agreed to expand investment and Russia's interest in the joint ventures of the Orinoco Oil Belt and other fields. We have decided to increase shareholding and investment in oil production," Maduro stated during a telephone interview with stat-run TV channel VTV.

He did not elaborate on the amount, the conditions, or the specific investment areas. He added the information would be provided by the ministers.

President Maduro commented that the US strategy was to overstock the oil market, by using techniques that cause environmental damage and seek to harm geopolitics, hitting the economies of Russia and Venezuela.

Source: http://www.eluniversal.com/

Venezuela urges Chile not to air opinions about internal affairs

Chilean Foreign Minister Heraldo Muñoz offered to mediate in government-opposition dialogue in Venezuela.

The Venezuelan Ministry of Foreign Affairs rebutted the remarks made by Chilean Foreign Minister Heraldo Muñoz, who offered help to resume government-opposition dialogue in Venezuela.

"The Venezuelan Ministry of Foreign Affairs calls on Foreign Minister Heraldo Muñoz to refrain from expressing any views on Venezuela's internal affairs, and requires through his ambassador to Venezuela an explanation on the content and extent of his statements," the communiqué reads.

The Venezuelan government "has not requested through public or diplomatic means any intervention in its affairs," the statement added.

In a press conference on Monday, Heraldo Muñoz said he hoped for the resumption of political talks in Venezuela, suspended in May 2014.

Source: http://www.eluniversal.com/

Food Security VP: "In Venezuela there is plenty of everything"

The official said there are enough raw materials for producing goods and meeting demand for the next four months

Venezuelan Vice-President of Food Security and Sovereignty Carlos Osorio asserted that Venezuela relies on enough raw materials in stock to produce and fulfill the needs of the population in January-April.

"The thing is that some people are interested in making us believe there is no food in Venezuela. In Venezuela there is plenty of everything," the official noted.

"We will take any actions we deem necessary under the rule of law," to secure food distribution, he said. In this regard, Osorio called for compliance with the Law on Food Security and Sovereignty.

Source: http://www.eluniversal.com/

Putin, Maduro to discuss oil prices on Wednesday

President Maduro's unannounced visit to Russia comes after his visit to Algeria, Iran, and Saudi Arabia, against the backdrop of an international tour focused on the oil crisis

Venezuelan President Nicolás Maduro will visit Russia once again on Wednesday and meet with his Russian counterpart Vladimir Putin. Top in their agenda are plummeting oil prices, the Kremlin reported.

"Vladimir Putin will meet with Venezuelan President Nicolás Maduro (...) to talk about (....) the progress of bilateral cooperation, including the fulfillment of large bilateral projects in the energy, agriculture, and industrial areas," the Kremlin informed in a communiqué, AFP quoted.

President Maduro's unannounced visit to Russia comes after his visit to Algeria, Iran, and Saudi Arabia, against the backdrop of an international tour focused on the oil crisis.

Maduro's international tour began on January 5, and has included a number of OPEC and non-OPEC countries, EFE reported.

The price of the Venezuelan oil basket hit USD 42.44 last week, while the price of the OPEC basket stands at USD 41.50.

Source: http://www.eluniversal.com/

United Arab Emirates: OPEC cannot "protect" oil prices anymore

The Brent crude oil fell on Tuesday to slightly over USD 47 in London, while in New York, the WTI stood below USD 45 –both record low prices since 2009. The price of the Venezuelan crude oil barrel was USD 115 last June

The Organization of Petroleum Exporting Countries (OPEC) can no longer "protect" crude oil prices, in free fall since last June, stressed on Tuesday Minister of Energy of the United Arab Emirates Suhail bin Mohammed al-Mazroui, who blamed large production of shale oil -which needs to be "corrected" in his view- for the slump in oil prices.

The United Arab Emirates, an OPEC member, and other Member States of the organization, including leading Saudi Arabia, would be willing to accept a low price to leave shale oil producers out of the market, specially the United States, according to some analysts.

"We cannot continue to protect a specific" price level, stated Minister Mazroui, in reference to the OPEC, during an oil industry forum held in Abu Dhabi.

The Brent crude oil fell on Tuesday to slightly over USD 47 in London, while in New York, the WTI stood below USD 45 –both record low prices since 2009. The price of the Venezuelan crude oil barrel was USD 115 last June, AFP reported.

Source: http://www.eluniversal.com/

China offers loans to Latin America, Caribbean

All members of the Community of Latin American and Caribbean States can apply for commercial loans from China, which were initially proposed by President Xi Jinping on a visit to Brazil last year, a senior diplomat said on Monday.

The remarks by Zhu Qingqiao, Director-General of the Department of Latin American and Caribbean Affairs under the Foreign Ministry, suggested CELAC members without diplomatic ties with China can also have access to the loans.

Around a dozen CELAC members, including Paraguay and Haiti, have no formal diplomatic relationships with Beijing.

China and the CELAC will map out an overall plan guiding China-CELAC cooperation, including in the financial sector, during the first China-CELAC ministerial forum, which is set to be held in Beijing on Thursday and Friday, Zhu said at a press conference in Beijing.

More than 40 ministerial-level delegates, including 20 foreign ministers from the CELAC countries, have confirmed their attendance at the meeting, Zhu said.

The forum was established in July, 2014 after a meeting between Xi and leaders from China, Latin America and the Caribbean in Brasilia. It was the first collective meeting of China's president and leaders of Latin American and Caribbean countries.

In Brasilia, Xi proposed the creation of a $20 billion fund to finance infrastructure projects in Latin American and the Caribbean, and offered to extend a credit line of up to $10 billion to nations of CELAC via the Bank of China.

Su Zhenxing, a senior research fellow on Latin American studies at the Chinese Academy of Social Sciences, said countries without diplomatic relationships with Beijing are not excluded as they have maintained trade links with China for a long period, albeit small in size, and China is fostering cooperation with the whole CELAC.

CELAC, established in December 2011, is the largest regional political cooperation in the Western Hemisphere and consist of 33 countries except the United States and Canada.

The forum in Beijing showed the group’s willingness to strengthen cooperation with China, especially in the economic sector, said Su.

The meeting is expected to formulate operational rules for the forum and provide guidance in cooperation areas, he added.

China is the second largest trading partner and third largest investment source for Latin America. Trade between Latin America, the Caribbean and China has seen a significant increase in recent years, reaching $261.6 billion in 2013.

Xi is scheduled to attend the forum’s opening ceremony on Thursday morning, along with Costa Rica President Luis Guillermo Solis, Ecuador President Rafael Correa Delgado, Bahamas Prime Minister Perry Christie and Venezuela President Nicolas Maduro Moros.

Source: http://www.chinadaily.com.cn/

Leading Venezuelan opposition figure charged over alleged plot to kill president

Maria Corina Machado told she will face criminal charges for her alleged involvement in a supposed plot to kill Nicolas Maduro.

A leading figure in the Venezuelan opposition has been told she will face criminal charges for alleged involvement in a purported plot to kill President Nicolas Maduro, a move she called an attempt to silence her and other critics of Venezuela’s government.

Maria Corina Machado, a former member of the National Assembly, left a private meeting with prosecutors at the Ministry of Justice after authorities informed her that she would be charged with conspiracy. The charge carries a maximum of 16 years in prison.

Her case will now be assigned to a judge so Machado can be formally charged.

“All the accusations and the supposed evidence are false,” she told reporters outside the ministry.

Machado has repeatedly said she has no knowledge of any plot against Maduro and portrays the allegations as political persecution.

“I have not committed any crime,” she said before the meeting with prosecutors. “This is the price I have to pay for speaking the truth in Venezuela.”

The attorney general’s office opened its investigation in March after officials claimed a plot was being formed against Maduro and others in the government involving Machado and several other opposition figures. Authorities have not provided any evidence publicly beyond some allegedly incriminating emails. The government has prohibited Machado from leaving the country since June.

Tomas Arias, one of her lead attorneys, said the defense had asked for more specific proof of any link between Machado and what he called the “supposed plot” against the president. Authorities have provided nothing in response, he said.

Prosecutors have issued arrest orders for several other opposition figures for their alleged roles in the supposed plot, several of whom have left Venezuela.

Since narrowly winning election last year to succeed his mentor, the late President Hugo Chavez, Maduro has claimed there have been five assassination attempts against him and more than a dozen acts of sabotage and conspiracy.

The investigation of Machado comes as oil-dependent Venezuela comes under increasing financial strain because of plunging world oil prices, forcing the government to cut spending amid widespread shortages and the world’s highest inflation.

Source: Associated Press in Caracas
theguardian.com, Wednesday 3 December 2014 22.50 GMT

Venezuela's food shortage by the end of February at 47.7%

State-owned food corporation and oil company Mercal and Pdvsa face shortage at 50%, research firm Datanálisis informed

EL UNIVERSAL

Monday March 17, 2014  10:47 AM

General food shortage in Venezuela has consistently exacerbated for 16 months. Shortage in regulated goods averaged 37.2% in 2013, up 21.3 percentage points with respect to 2012 figures.

In January-February 2014, shortage in regulated products hit 47.7%, rising 31.8 points as against 2012, and 10.5 points compared to 2013, according to Mystery Shopping, a research conducted by Datanálisis in seven distribution routes.

In 2011-2012, none of the categories went through more than 50% of shortage, whereas this year 33% of the goods face more than 70% of shortage.

This blog is sponsored by: 

http://rapidfire.eu.pn/Brainabudance/?page_id=7
http://rapidfire.eu.pn/Brainabudance/?page_id=14

Prices up in gov't food network to prevent smuggling

Venezuelan Minister of Food Félix Osorio thinks that keeping prices without any variation is "vulgar"

ANGIE CONTRERAS C. |  EL UNIVERSAL

Thursday March 20, 2014  09:52 AM

Prices of the foodstuffs sold through Mercal, a network of food vendors under the aegis of the Venezuelan government, have risen "step by step" in the last year, with no formal announcement from the Executive Office.

As alleged by Food Minister Félix Osorio, rising prices has been a measure to curb outgoing smuggling of subsidized commodities.

The last "formal" hike of prices in the foodstuffs traded through Mercal network occurred in 2009.

In the minister opinion, keeping prices without any variation is "vulgar."

Osorio downplayed the claims of production problems in Venezuela and attributed imports to a larger demand.

This blog is sponsored by: 

http://rapidfire.eu.pn/Brainabudance/?page_id=7

http://rapidfire.eu.pn/Brainabudance/?page_id=14 

Venezuela's Sicad 2 insufficient to meet public sector demand

JP Morgan does not rule out an adjustment in the forex rate of the National Center for Foreign Trade from VEB 6.30 to VEB 8.40 per US dollar

MAYELA ARMAS H. |  EL UNIVERSAL

Thursday March 20, 2014  10:02 AM

The Venezuelan Government started the New Year with a deficit in its fiscal accounts, which has led to a revision to the foreign exchange policy, including the incorporation of the Second Ancillary Foreign Currency System (Sicad 2), whose forex rate is set to fluctuate. Nonetheless, the effects of the new architecture would not satisfy demand if authorities fail to cut down on public spending.

Although authorities have not explained how much foreign currency supply would rise with the new supplementary mechanism, income would not be enough to meet the needs of public institutions.

The director of research economic firm Ecoanalítica, Asdrúbal Oliveros, has outlined that "although income deriving from Sicad 2 operations could be useful, a policy aimed at reducing public expenditure and a reform of the country monetary policy are needed."

In his view, Oliveros asserts that the impact of devaluation on the supplementary forex system is subject to other actions. Unless measures are adopted, the system would fail.

Meanwhile, JP Morgan deems Sicad 2 could gradually flow. The firm estimates oil giant Pdvsa would allocate USD 5-10 billion out of its oil revenues. Moreover, JP Morgan projects bonds stock held by public institutions would account for USD 5.8 billion.

In a report the firm also expresses the need for further policies. In this context, it does not rule out an adjustment in the forex rate of the National Center for Foreign Trade, from VEB 6.30 to VEB 8.40 per US dollar.

Venezuelan association rules out suspension of flights by other airlines

Deputy reaffirms Venezuelan Government's will to advance in foreign currency matters

EL UNIVERSAL

Thursday March 20, 2014  11:36 AM

In an interview with radio station Unión Radio, the executive president of the Venezuelan Association of Airlines (ALAV), Humberto Figuera, ruled out that the suspension of Air Canada flights from and to Venezuela could lead to further suspensions by other airlines operating in the country.

Meanwhile, referring to the debt to international airlines, Congressman Claudio Farías (ruling PSUV) said during a session of the Venezuelan National Assembly that the Executive Office is willing to advance in foreign currency matters.

This blog is sponsored by: 

http://rapidfire.eu.pn/Brainabudance/?page_id=7

http://rapidfire.eu.pn/Brainabudance/?page_id=14

Thirty-one slain in connection with Venezuelan demonstrations

The attorney general explained that 318 out of 461 people injured were civilians, whereas the remaining 143 casualties included police agents, military officers and Government officials

EL UNIVERSAL

Thursday March 20, 2014  12:03 PM

Venezuela's Attorney General Luisa Ortega Díaz has informed that since February 12, 31 people have been killed, 461 injured and 1,854 detained in events related to demonstrations in Venezuela.

In an official radio broadcast, Ortega outlined that 25 out of the 31 people killed were civilians whereas the other six included police agents, military officers and public prosecutors.

The attorney general added that 318 out of the 461 people injured were civilians. The remaining 143 casualties included police agents, military officers and Government officials, AVN reported.

This blog is sponsored by: 

http://rapidfire.eu.pn/Brainabudance/?page_id=7

http://rapidfire.eu.pn/Brainabudance/?page_id=14

Venezuelan gov't exerts arbitrary control over Internet

At least 500 websites have been blocked in the country

DANIEL GONZÁLEZ CAPPA |  EL UNIVERSAL

Thursday March 20, 2014  01:19 PM

Blocks and attacks against Internet in Venezuela have been on the rise. As many as 500 websites are estimated to have been blocked.

Ricardo Holmquist, a representative for the Venezuelan Internet Society (ISOC), believes the number of websites arbitrarily blocked could be higher than 500 and particularly in connection with information about the unofficial forex rate, the health state of late President Hugo Chávez, and critiques against the Government.

This blog is sponsored by: 

http://visitwebpages.info/paypalchecks/

http://RapidFire.ExperienceBA.com/?SOURCE=livingwithoutsecrets

Minister of Justice: Mayors brought to court to protect majority's rights

The judiciary "does not act to ensure the right of a small group intending, with the excuse of the right to protest, mar Venezuelans' lives and hit the country governance"

EL UNIVERSAL

Thursday March 20, 2014  02:22 PM

"Justice bodies ruled in favor of the great majorities and act to protect their rights." The statement Venezuelan Minister of the Interior and Justice Miguel Rodríguez Torres came after the detention of opposition Mayors Daniel Ceballos and Enzo Scarano.

"Venezuelans need to understand that State institutions, not the Government in this case, act to protect the right of majorities instead of those of a small group attempting to use the right to protest as a pretext to cloud the lives of Venezuelans, and hit governance in the country," Torres told the press.

Further on, the minister stated violent spots remained in San Cristóbal, the capital city of Táchira state, and San Diego municipality in Valencia, the capital city of Carabobo state.

Sicad 2 starts up on Monday, March 24

According to Venezuelan Vice-President for Economic Affairs Rafael Ramírez, the scheme is being tested with the help of financial brokers

EL UNIVERSAL

Thursday March 20, 2014  03:11 PM

The second Ancillary Foreign Currency Administration System (Sicad 2) will start operations on Monday, March 24, as reported by Venezuelan Vice-President for Economic Affairs Rafael Ramírez.

"Sicad 2 will start up on Monday, March 24, upon completion of all the testing of the system together with operators," the senior officer twitted.

Minutes later, he said on state-run TV channel VTV that there will not be middlemen in the scheme and that demand "would be satisfied with supply." He clarified that there will not be ceiling for the foreign currency coming in the system and that there is enough to meet the stock market. Ramírez commented that public banks and the oil sector have been authorized to place financial instruments in that market.

Ramírez added that he had met with the operators authorized to start operations "perfectly" that day. He promised a meeting on Friday with brokerage firms.

This blog is sponsored by: 

http://visitwebpages.info/paypalchecks/

http://RapidFire.ExperienceBA.com/?SOURCE=livingwithoutsecrets