DIRS.INFO The most relevant business & tech news

☆ Machado holds huge lead in Venezuela presidential primary vote
▼ + stars: | 2023-10-23 | by ( ) www.reuters.com time to read: +1 min

Industrial engineer and former lawmaker Maria Corina Machado reacts to the vote count, after Venezuelans voted in a primary to choose a unity opposition candidate to face Venezuela's President Nicolas Maduro in his probable re-election bid in 2024, in Caracas, Venezuela October 23, 2023. REUTERS/Leonardo Fernandez Viloria Acquire Licensing RightsCARACAS, Oct 23 (Reuters) - Venezuelan opposition leader Maria Corina Machado held an overwhelming lead in the vote count on Monday evening for the South American country's opposition presidential primary with 92.56% support, according to opposition officials. Nearly 65% of ballot boxes have been counted, they added. Machado declared victory overnight after an initial count of about a fourth of the ballots cast in the Sunday contest showed she had won by a similar margin. Reporting by Vivian Sequera; Editing by David Alire GarciaOur Standards: The Thomson Reuters Trust Principles.

Persons: Maria Corina Machado, Nicolas Maduro, Leonardo Fernandez Viloria, Machado, Vivian Sequera, David Alire Garcia Organizations: REUTERS, Rights, South, Thomson Locations: Caracas, Venezuela, Rights CARACAS, Venezuelan

Machado, 56, had led her rivals by some 40 points in polls. Though five people were released, the Maduro government said last week that those with disqualifications cannot run in the 2024 contest. The opposition, which says the disqualifications are unlawful, has been reticent about what it would do if Machado wins the primary but is unable to compete in 2024. Machado has said she could pressure the electoral authorities to let her register, while others have argued a substitute will be necessary. Reporting by Vivian Sequera and Mayela Armas; Writing by Julia Symmes Cobb; Editing by Tom HogueOur Standards: The Thomson Reuters Trust Principles.

Persons: Maria Corina Machado, Nicolas Maduro, Machado, Carlos Prosperi, Maduro, Vivian Sequera, Mayela Armas, Julia Symmes Cobb, Tom Hogue Organizations: Venezuelan, Thomson Locations: Caracas, CARACAS, United States, Machado's

The auction could start a new chapter for the 113-year-old company, which has been owned by Venezuela for almost 40 years. Washington and Venezuela's political opposition wanted Citgo to anchor the country's economic future under a democratically elected government. The sale could become the biggest court auction ever held. Motiva, Valero and Citgo's ultimate parent, Venezuela's state oil company PDVSA, did not reply to requests for comment. "Citgo will be strategic for Venezuela in the next 20-25 years, not only as a refining company, but with an expanded role," director Medina said.

Persons: Biden, Citgo, Nicolas Maduro's, Matthew Blair, Tudor, Blair, Jose Ignacio Hernandez, Leonard Stark, PDVSA, PDV, Juan Guaido, Natalie Shkolnik, Wilk Auslander, Nicolas Maduro, Stark, Evercore, Conoco, Horacio Medina, Carlos Jorda, Medina, Hernandez, Marianna Parraga, Erwin Seba, Gary McWilliams, Anna Driver Organizations: U.S . State Department, Reuters, Marathon Petroleum, Motiva Enterprises, Valero Energy, Koch Industries, Valero, U.S . Treasury, Holt, U.S, Crystallex International, PDVSA, National Assembly, Citgo, PDV, Supreme, Evercore, ConocoPhillips, Exxon Mobil, Exxon, U.S . Treasury Department's, Foreign Assets Control, Thomson Locations: United States, Petroleum, U.S, Houston, Venezuela, Washington, Saudi, Pickering, Citgo, Delaware, Caracas

Maria Corina Machado, 56, an industrial engineer and former lawmaker, has led her rivals by some 40 points in polls. The opposition and government this week signed a deal on some election guarantees, including the presence of international observers. Some in the opposition have said they are skeptical Maduro will follow through on the deal. The opposition, which says the disqualifications are unlawful, has been reticent to confirm what it would do if Machado wins the primary but is unable to compete in 2024. Others have argued selecting a substitute candidate would be necessary, though whether the often-fractious opposition would accept Machado choosing a replacement remains to be seen.

Persons: Leonardo Fernandez Viloria, Nicolas Maduro, Maria Corina Machado, Machado, Maduro, Jorge Rodriguez, Carlos Prosperi, Delsa, Mayela Armas, Vivian Sequera, Julia Symmes Cobb, Rod Nickel Organizations: El, REUTERS, Rights, Trump, Thomson Locations: El Valle, Venezuela, Caracas, Rights CARACAS, United States

☆ Venezuela Holds a Key Vote. Here’s What You Need to Know.
▼ + stars: | 2023-10-22 | by ( Genevieve Glatsky | ) www.nytimes.com time to read: +1 min

Mr. Maduro came to power in 2013, after the death of Hugo Chávez, the founder of the country’s socialist-inspired revolution. Under Mr. Maduro, Venezuela, once among the richest countries in Latin America, has undergone an extraordinary economic collapse, leading to a humanitarian crisis that has sent more than seven million people fleeing. But the Maduro government and the opposition signed an agreement on Tuesday meant to move toward free and fair elections, including allowing the opposition to choose a candidate for next year’s presidential contest. Sunday’s election, however, will take place with no official government support. Instead, the vote is being organized by civil society, with polling stations in homes, parks and the offices of opposition parties.

Persons: Nicolás Maduro, Maduro, Hugo Chávez Locations: Maduro, Venezuela, Latin America

Venezuelans were arrested 54,833 times by the Border Patrol after entering from Mexico in September, more than double from 22,090 arrests in August and well above the previous monthly high of 33,749 arrests in September 2022. Venezuela plunged into a political, economic and humanitarian crisis over the last decade, pushing more than 7 million people to leave. Political Cartoons View All 1211 ImagesThe U.S. “surged resources and personnel” to the border in September, said Troy Miller, acting commissioner of Customs and Border Protection. Mexicans were arrested 39,733 times crossing the border in September, well behind Venezuelans. Republicans seized on the latest numbers as its leading presidential candidates have tried to frame the border as a major issue in next year's elections.

Persons: Venezuelans, Biden, Nicolás, ”, Troy Miller, ” Miller, Alejandro, Mayorkas, Mark Green of Organizations: DIEGO, Border Patrol, U.S . Customs, Protection, Customs, Central Americans, Republicans, Homeland, House Homeland Security Locations: U.S, Mexico, Venezuela, America, United States, New York, Chicago, South America, Africa, Asia, Hondurans, Mark Green of Tennessee

When the Venezuelan government released five political prisoners late Wednesday to cheers from the country’s opposition, it was the most emotional in a rapid series of policy shifts in the South American country that together represent the most significant softening of relations between Venezuela and the United States in years. In a matter of days, Venezuela’s authoritarian government has agreed to accept Venezuelan migrants deported from the United States and signed an agreement with opposition leaders designed to move toward a free and fair presidential election in 2024. In exchange, the United States has agreed to lift some economic sanctions on Venezuela’s oil industry, a vital source of income for the government of President Nicolás Maduro. The developments come just days before more than one million Venezuelans are expected to head to the polls for a primary election to choose the opposition leader who will face Mr. Maduro next year.

Persons: Nicolás Maduro, Maduro Locations: Venezuelan, American, Venezuela, United States

☆ U.S. Lifts Broad Sanctions Against Venezuela for Six Months
▼ + stars: | 2023-10-19 | by ( Kejal Vyas | ) www.wsj.com time to read: 1 min

The U.S. lifted sanctions against Venezuela’s oil and gas sectors for six months on Wednesday. Photo: Betty Laura Zapata/Bloomberg NewsThe Biden administration late Wednesday announced the removal of a broad array of sanctions against Venezuela’s oil and gas sector in response to a deal between President Nicolás Maduro ’s authoritarian government and his political opponents that could lead to a presidential election next year. The U.S. Treasury Department suspended for six months measures against Venezuela that had prohibited financial transactions in the country’s energy sector and gold mining industry. The measure also ended a ban on trading Venezuelan government bonds.

Persons: Betty Laura Zapata, Nicolás Maduro Organizations: U.S, Bloomberg, Biden, Wednesday, U.S . Treasury Locations: U.S, Venezuela

[1/4] Maria Corina Machado, candidate of the Vente Venezuela party for the opposition primaries and Freddy Superlano, leader of the Voluntad Popular party, raise their arms as they pose for pictures after a press conference, in Caracas, Venezuela October 13, 2023. The primary is the first held by Venezuela's opposition in over a decade. Favorite Maria Corina Machado is barred from holding public office, in a move criticized by the opposition and the U.S alike, and it is not clear what will happen if she wins the primary. Two other candidates - former presidential candidate Henrique Capriles and ex-lawmaker Freddy Superlano - have already withdrawn their candidacies because of similar disqualifications. The U.S. government has conveyed to Maduro bans must be lifted for all opposition presidential candidates by the end of November in exchange for sanction relief, a senior U.S. official said on Wednesday.

Persons: Maria Corina Machado, Freddy Superlano, Leonardo Fernandez, Nicolas Maduro, Henrique Capriles, MARIA CORINA MACHADO, Machado, CARLOS PROSPERI Prosperi, Prosperi, Solorzano, Deisy Buitrago, Vivian Sequera, Mayela Armas, Oliver Griffin, Marguerita Choy Organizations: REUTERS, Voters, U.S, World Bank, Inter, American Development Bank, International Monetary Fund, Accion Democratica, Criminal Court, United Nations, Thomson Locations: Venezuela, Caracas, CARACAS, U.S, Guarico

REUTERS/Leonardo Fernandez Viloria/File Photo Acquire Licensing RightsNEW YORK/CARACAS, Oct 19 (Reuters) - Venezuela's sovereign bonds rallied on Thursday, a day after the United States lifted its ban on secondary market trading of some of the country's eurobonds, with investors eyeing a debt restructuring on some $60 billion of defaulted debt. "Prices have almost doubled in the past 24 hours but are still well below the pre-sanctioned levels," said Edward Cowen, CEO of Winterbrook Capital, who has co-invested in a fund to buy Venezuelan debt. Cowen added that a return to Venezuela's regular weighting on global indexes like JPMorgan's would give the prices further support. "I think the market was caught by surprise as the ban on secondary trading of bonds was not expected to be removed this early in the negotiation," said Armando Armenta, senior economist for global economic research at AllianceBernstein. Small funds and investors outside the United States had looked to increase their exposure to Venezuelan bonds on the expectation of debt renegotiations.

Persons: Leonardo Fernandez Viloria, PDVSA, Edward Cowen, Cowen, Armando Armenta, Maria Corina Machado, Rodrigo Campos, Mayela, Marc Jones, Corina Rodriguez, Christina Fincher, Will Dunham Organizations: REUTERS, South, Winterbrook, U.S . Treasury Department, Petroleum, Venezuelan, U.S . State Department, Mayela Armas, Thomson Locations: Bolivar, Caracas, Venezuela, CARACAS, United States, South American, U.S, Venezuela's, Venezuelan, New York, London, Madrid

A state oil company PDVSA's logo is seen at a gas station in Caracas, Venezuela May 17, 2019. The United States on Wednesday lifted for six months most restrictions on Venezuela for producing, selling and exporting oil to its chosen markets. Not all sanctions on PDVSA were lifted by the United States. Before sanctions, India and the United States were other top destinations. PDVSA and Venezuela's oil ministry did not immediately reply to requests for comment.

Persons: Ivan Alvarado, PDVSA, Francisco Monaldi, Rice, Nicolas Maduro's, Monaldi, Maduro, Spain's, Joe Biden's, Marianna Parraga, Will Dunham Organizations: REUTERS, Rights, U.S, Treasury's, Foreign Assets Control, Washington, Chevron, Baker Institute, Venezuelan, Citgo Petroleum, Valero Energy, PBF Energy, India's Reliance Industries, Nayara Energy, Italy's Eni, United, Thomson Locations: Caracas, Venezuela, Venezuelan, United States, U.S, Asia, PDVSA, American, CHINA, EUROPE, China, India, PetroChina, Maduro, Washington

☆ Five Prisoners Released in Venezuela After Opposition Deal, US Demands
▼ + stars: | 2023-10-19 | by ( Oct. | At P.M. | ) www.usnews.com time to read: +3 min

CARACAS (Reuters) - Five people jailed in Venezuela, including well-known opposition figures, have been released, the opposition said around midnight on Thursday following an electoral deal with the government of President Nicolas Maduro and Washington's demand certain prisoners be freed. U.S. President Joe Biden's administration on Wednesday eased Trump-era sanctions on the Venezuelan oil and gas industry, in response to an election deal reached between the Venezuelan government and the opposition. A senior State Department official, speaking to Reuters on condition of anonymity, has threatened to reverse sanctions relief measures unless Maduro lifts the bans and frees prisoners. A U.S. State Department official said on Wednesday he expects movement in the near term on releases of wrongfully detained Americans. There are believed to be more than half a dozen American prisoners, several belonging to that category.

Persons: Nicolas Maduro, Joe Biden's, Washington, Antony Blinken, Gerardo Blyde, Roland Carreno, Will, Juan Requesens, Blyde, Carreno, Maria Corina Machado, Requesens, Mayela Armas, Vivian Sequera, Matt Spetalnick, Natalia Siniawski, Julia Symmes Cobb, Inti Landauro, Deborah Kyvrikosaios, Barbara Lewis, Jonathan Oatis Organizations: Trump, Venezuelan, U.S, U.S . State Department, First, State Department, Reuters, Popular, Maduro, Foro Penal, Organization of American Locations: CARACAS, Venezuela, Caracas, Maduro's, Foro, U.S

[1/2] Venezuelan journalist Roland Carreno of the opposition party Popular Will is being greeted by family members and colleagues after he was released from prison, in Caracas, Venezuela October 19, 2023. REUTERS/Luis Gonzalo Perez Acquire Licensing RightsCARACAS, Oct 19 (Reuters) - Five people jailed in Venezuela, including well-known opposition figures, have been released, the opposition said around midnight on Thursday, following a deal with the government of President Nicolas Maduro and Washington's demand that certain prisoners be freed. Three U.S. citizens are still wrongfully detained in Venezuela, United States Assistant Secretary of State for Western Hemisphere Affairs Brian A. Nichols said on Thursday. A U.S. State Department official said on Wednesday he expects movement in the near term on releases of wrongfully detained Americans. For years the opposition has urged the government to free over 200 people that human rights organization Foro Penal considers political prisoners.

Persons: Roland Carreno, Luis Gonzalo Perez, Nicolas Maduro, Joe Biden's, Washington, Antony Blinken, Venezuela's, Gerardo Blyde, Juan Gonzalez, Jorge Rodriguez, Will, Juan Requesens, Blyde, Carreno, Maria Corina Machado, Western Hemisphere Affairs Brian A, Nichols, Eyvin Hernandez, Jerrel Kenemore, Joseph Ryan Cristella, Hernandez, Cristella, Requesens, Mayela Armas, Vivian Sequera, Matt Spetalnick, Marianna Parraga, Natalia Siniawski, Julia Symmes Cobb, Inti Landauro, Deborah Kyvrikosaios, Barbara Lewis, Jonathan Oatis, Richard Chang, Rod Nickel Organizations: REUTERS, Rights, Trump, Venezuelan, U.S, First, State Department, Reuters, United States, State, Western Hemisphere Affairs, U.S . State Department, Foro Penal, Maduro, Thomson Locations: Venezuelan, Caracas, Venezuela, Rights CARACAS, Bolivarian Republic, Maduro's, Three U.S, Los Angeles, Texas, Colombia, U.S

A state oil company PDVSA's logo is seen at a gas station in Caracas, Venezuela May 17, 2019. The U.S. on Wednesday lifted most restrictions on Venezuela for six months for producing, selling and exporting oil to its chosen markets. But it is not expected to significantly boost Venezuela's deteriorated oil production or immediately lead to stronger exports. Venezuela can now receive direct payments for goods or services under the license issued by OFAC, which oversees American sanctions. PDVSA and Venezuela's oil ministry did not immediately reply to requests for comment.

Persons: Ivan Alvarado, PDVSA, Washington, Pedro Tellechea, Francisco Monaldi, Rice, Nicolas Maduro's, Monaldi, Maduro, Spain's, Joe Biden's, Marianna Parraga, Will Dunham, Marguerita Choy Organizations: REUTERS, Rights, U.S, Treasury's, Foreign Assets, Oil, OFAC, Washington, Chevron, Baker Institute, Venezuelan, Citgo Petroleum, Valero Energy, PBF Energy, India's Reliance Industries, Nayara Energy, Eni, Thomson Locations: Caracas, Venezuela, Venezuelan, U.S, Asia, PDVSA, United States, American, CHINA, EUROPE, China, India, PetroChina, Houston, Maduro, Washington

WASHINGTON (AP) — In response to Venezuela’s government and a faction of its opposition formally agreeing to work together to reach a series of basic conditions for the next presidential election, the U.S. agreed Wednesday to temporarily suspend some sanctions on the country's oil, gas and gold sectors. Tuesday's agreement between President Nicolás Maduro’s administration and the Unitary Platform came just days before the opposition holds a primary to pick its candidate for the 2024 presidential election. The ban on trading in the primary Venezuelan bond market remains in place, Treasury says. We stand with the Venezuelan people and support Venezuelan democracy,” he said. Secretary of State Antony Blinken said the U.S. and the international community “will closely follow implementation of the electoral roadmap, and the U.S. government will take action if commitments under the electoral roadmap and with respect to political prisoners are not met.”

Persons: Nicolás, Minerven, Brian E, Nelson, ”, Antony Blinken Organizations: WASHINGTON, U.S . Treasury, U.S Locations: U.S, Treasury's, United States, Venezuela, Venezuelan

Rolling back Trump-era sanctions, U.S. officials issued general licenses for Venezuela's oil, gas and mining sectors in response to a deal between Venezuelan President Nicolas Maduro and the county's opposition on the 2024 presidential election. SLOW RECOVERYThe sanctions relief authorizes the production, sale and export of Venezuela's crude and gas, while keeping a ban on business with Russia. Since the U.S. imposed secondary oil sanctions on Venezuela in 2020, PDVSA had been unable to fulfill its supply contracts to clients in regions from Europe to Asia. An individual authorization to Chevron Corp (CVX.N) allowed the return of Venezuela's crude to the United States this year. Area chart shows data from U.S. EIA showing Venezuela crude oil production.

Persons: Leonardo Fernandez Viloria, Francisco Monaldi, Rice University's, Nicolas Maduro, Joe Biden, Monaldi, PDVSA, Baker Hughes, Maduro, Marianna Parraga, Julia Symmes Cobb, David Gregorio, William Mallard Organizations: REUTERS, Rights, South, Rice University's Baker Institute ., Trump, Venezuelan, OPEC, U.S, Chevron Corp, U.S Chevron, Eni, EIA, Thomson Locations: Jusepin, Venezuela, South American, U.S, American, Russia, Iran, Europe, Asia, United States, Trinidad and Tobago, China, Caribbean

☆ Exclusive: US easing Venezuela oil sanctions after election deal -official
▼ + stars: | 2023-10-18 | by ( Matt Spetalnick | ) www.reuters.com time to read: +4 min

Venezuela's President Nicolas Maduro speaks during a meeting with Iranian President Ebrahim Raisi at the Miraflores Palace, in Caracas, Venezuela June 12, 2023. The U.S. imposed tough sanctions on Venezuela to punish President Nicolas Maduro's government following his 2018 re-election, which the U.S. and other Western governments rejected as a sham. Since 2019, U.S. sanctions have banned state-run oil company PDVSA from exporting to its chosen markets. The official warned, however, that U.S. decisions on relaxed sanctions would depend on Maduro complying with the latest agreement and working toward free and fair elections. Some opposition figures told Reuters on Monday they doubt Maduro's administration will follow through on the election pledges.

Persons: Nicolas Maduro, Ebrahim Raisi, Leonardo Fernandez Viloria, Joe Biden's, Nicolas Maduro's, Biden, Donald Trump's, We're, Maria Corina Machado, Maduro, Matt Spetalnick, Marianna Parraga, Mayela Armas, Josie Kao Organizations: REUTERS, Rights, Venezuelan, U.S . State Department, Reuters, U.S, EIA, Biden, Thomson Locations: Miraflores, Caracas, Venezuela, U.S, Maduro, Caribbean, OPEC, The U.S, Barbados, BARBADOS

Maria Corina Machado, candidate of the Vente Venezuela party for the opposition primaries, meets with her supporters after a press conference, in Caracas, Venezuela September 6, 2023. REUTERS/Leonardo Fernandez Viloria/File Photo Acquire Licensing RightsCARACAS, Oct 18 (Reuters) - Venezuela's opposition will hold a primary on Sunday to pick its candidate for 2024 presidential elections, despite the front-runner being barred from holding office. The primary is the first the opposition has held in 11 years. It has not backed a presidential candidate in a general election since 2013. Officials who are found guilty of corruption are banned from holding public office for up to 15 years.

Persons: Maria Corina Machado, Leonardo Fernandez Viloria, Nicolas Maduro, Juan Guaido, Machado, Vivian Sequera, Oliver Griffin, Sonali Paul Organizations: REUTERS, Rights, Electoral, Thomson Locations: Venezuela, Caracas, Rights CARACAS, U.S, Washington

☆ US easing Venezuela oil sanctions after election deal
▼ + stars: | 2023-10-18 | by ( Matt Spetalnick | ) www.reuters.com time to read: +2 min

Venezuela's President Nicolas Maduro speaks during a meeting with Iranian President Ebrahim Raisi at the Miraflores Palace, in Caracas, Venezuela June 12, 2023. REUTERS/Leonardo Fernandez Viloria/File Photo Acquire Licensing RightsWASHINGTON, Oct 18 (Reuters) - The Biden administration on Wednesday broadly eased sanctions on Venezuela's oil and gas sector in response to a 2024 election deal reached between the Venezuelan government and the country's opposition. Treasury is prepared to amend or revoke the authorizations at any time if representatives of President Nicolas Maduro fail to follow through on their commitments in the deal with the opposition, it added. The changes include the issuance of a six-month general license for the oil and gas sector in Venezuela and another general license authorizing dealings with Minerven – the Venezuelan state-owned gold mining company. The frontrunner in an opposition primary scheduled for Sunday, Maria Corina Machado, is barred from office for 15 years as of June.

Persons: Nicolas Maduro, Ebrahim Raisi, Leonardo Fernandez Viloria, Biden, Minerven, Maria Corina Machado, Donald Trump, Maduro, Matt Spetalnick, Marianna Parraga, Mayela Armas, Vivian Sequera, Josie Kao, Lisa Shumaker Organizations: REUTERS, Rights, Venezuelan, U.S . Department of, Treasury, Treasury Department, U.S . State Department, Reuters, Washington, Biden, Thomson Locations: Miraflores, Caracas, Venezuela, Venezuelan, U.S

SINGAPORE, Oct 17 (Reuters) - Oil prices steadied on Tuesday after a more than $1 slide on Monday amid hopes the U.S. would ease sanctions on producer Venezuela and as Washington stepped up efforts to prevent an escalation of the war between Israel and Hamas. Both oil benchmarks surged last week on fears the conflict in the Middle East could widen, with global benchmark Brent gaining 7.5% in its highest weekly gain since February. The Biden administration has been seeking ways to increase the flow of oil to world markets to alleviate high prices. But any real oil output increase by Venezuela will take time due to lack of recent investments. Reporting by Sudarshan Varadhan; Editing by Sonali Paul, Muralikumar Anantharaman and Kim CoghillOur Standards: The Thomson Reuters Trust Principles.

Persons: Brent, Nicolas Maduro, Maduro's, Washington, Joe Biden, Biden, Sudarshan Varadhan, Sonali Paul, Muralikumar Anantharaman, Kim Coghill Organizations: Venezuela, U.S, West Texas, U.S ., Organization of Petroleum Exporting, Brent, Hamas, ANZ Research, Thomson Locations: SINGAPORE, U.S, Washington, Israel, Venezuela, Gaza, Iran

SINGAPORE, Oct 17 (Reuters) - Oil prices fell slightly on Tuesday after a more than $1 slide on Monday amid hopes the U.S. would ease sanctions on producer Venezuela and as Washington stepped up efforts to prevent an escalation of the war between Israel and Hamas. Venezuela's government and opposition are set to resume long-suspended talks on Tuesday that President Nicolas Maduro said would benefit the upcoming 2024 election, a move that could lead to Washington easing sanctions, multiple sources said. The Biden administration has been seeking ways to increase the flow of oil to world markets to alleviate high prices. But any real oil output increase by Venezuela will take time due to lack of recent investments. Reporting by Sudarshan Varadhan; Editing by Sonali Paul and Muralikumar AnantharamanOur Standards: The Thomson Reuters Trust Principles.

Persons: Brent, Nicolas Maduro, Maduro's, Washington, Joe Biden, Biden, Sudarshan Varadhan, Sonali Paul, Muralikumar Organizations: Venezuela, U.S, West Texas, U.S ., Organization of Petroleum Exporting, Brent, Hamas, ANZ Research, Thomson Locations: SINGAPORE, U.S, Washington, Israel, Venezuela, Gaza, Iran

☆ Oil steadies on hopes of Venezuela sanctions being eased
▼ + stars: | 2023-10-17 | by ( ) www.reuters.com time to read: +1 min

SINGAPORE, Oct 17 (Reuters) - Oil prices stabilised on Tuesday after a more than $1 slide on Monday amid hopes the U.S. would ease sanctions on producer Venezuela and as Washington stepped up efforts to prevent an escalation of the war between Israel and Hamas. Brent crude futures were up 3 cents at $89.68 a barrel, while U.S. West Texas Intermediate crude (WTI) were down 11 cents at $86.55 a barrel as of 0113 GMT. Both oil benchmarks surged last week on fears the conflict in the Middle East could widen, with global benchmark Brent gaining 7.5% in its highest weekly gain since February. The Biden administration has been seeking ways to increase the flow of oil to world markets to alleviate high prices. But any real oil output increase by Venezuela will take time due to lack of recent investments.

Persons: Brent, Nicolas Maduro, Maduro's, Washington, Biden, Sudarshan Varadhan, Sonali Paul Organizations: Venezuela, U.S, West Texas, U.S ., Organization of, Petroleum, Brent, ANZ Research, Thomson Locations: SINGAPORE, U.S, Washington, Israel, Venezuela

☆ Oil prices edge higher ahead of Biden Middle East trip
▼ + stars: | 2023-10-17 | by ( Nicole Jao | ) www.reuters.com time to read: +3 min

SummaryCompanies Biden travels to Middle East on WednesdayBiden trip will balance Israel support with containing warUS-Venezuela talks could see oil sanctions easeUPCOMING - U.S. oil inventory data from API and EIANEW YORK, Oct 17 (Reuters) - Oil prices edged higher on Tuesday ahead of a trip by U.S. President Joe Biden to the Middle East that is likely to involve balancing support for Israel with trying to prevent any regional escalation of its war with Hamas. Fears the Middle East conflict could widen drove big gains in both oil benchmarks last week. The U.S. government has been seeking ways to increase the flow of oil to world markets to alleviate high prices. But any real oil output increase by Venezuela will take time because of a lack of investment. Looking ahead, the oil market is waiting for U.S. oil inventory data from the American Petroleum Institute (API), an industry group, on Tuesday and the government's Energy Information Administration (EIA) on Wednesday.

Persons: Companies Biden, Joe Biden, Brent, Biden's, Edward Moya, Nicolas Maduro's, Washington, Phil Flynn, Nicole Jao, Paul Carsten, Sudarshan, Kim Coghill, Ed Osmond, Jan Harvey, Barbara Lewis Organizations: Companies, Middle East, Wednesday Biden, U.S, Israel, Hamas, . West Texas, Brent, Wednesday, OPEC, Organization of Petroleum Exporting, Price Futures, Saudi Aramco, American Petroleum Institute, government's Energy Information Administration, Thomson Locations: Middle, Israel, Venezuela, Iran, Lebanon, Washington, U.S, Saudi, OPEC, Russia, New York, London, Singapore

☆ Mexico logs sharp uptick in Venezuelan migrants amid latest surge
▼ + stars: | 2023-10-17 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Jose... Acquire Licensing Rights Read moreMEXICO CITY, Oct 17 (Reuters) - More migrants crossed into Mexico last month, led by a sharp increase from Venezuela but also significant numbers from Guatemala and Honduras, Mexico's top diplomat told lawmakers on Tuesday. In testimony to Mexican senators, Foreign Minister Alicia Barcena said that in the month of September alone, 60,000 Venezuelan migrants, 35,000 Guatemalan migrants and 27,000 Honduran migrants arrived in Mexico. The September data comes ahead of Sunday's migration summit in the southern Mexican town of Palenque hosted by President Andres Manuel Lopez Obrador where regional leaders will discuss rising U.S.-bound migration in Latin America. After U.S. authorities authorized in May more legal pathways to enter the United States, the numbers of migrants crossing Mexican territory fell abruptly. Barcena also noted that some 1.13 million migrants have so far this year reached Mexico's southern border with Guatemala, and that 1.75 million had reached the U.S.-Mexico border.

Persons: Cheila Gonzalez, Alicia Barcena, Andres Manuel Lopez, Gustavo Petro, Venezuela's Nicolas Maduro, Barcena, Raul Cortes, Isabel Woodford, Sandra Maler Organizations: REUTERS, MEXICO CITY, U.S, Thomson Locations: Guatemala, United States, Ciudad Juarez, Villa Ahumada, Chihuahua, Mexico, Jose, MEXICO, Venezuela, Honduras, Mexico's, Palenque, America

[1/2] Venezuela's President Nicolas Maduro speaks during a meeting with Iranian President Ebrahim Raisi at the Miraflores Palace, in Caracas, Venezuela June 12, 2023. It was not immediately known how soon the U.S. might act or how far it could go with sanctions relief. U.S. sources have also said any relaxation of sanctions would be reversible if Maduro fails to meet his election commitments. Maduro, president since 2013, is expected to run for re-election but has not yet formalized his candidacy. The U.S. imposed sanctions on Venezuela to punish Maduro's government following a 2018 election that Washington considered a sham.

Persons: Nicolas Maduro, Ebrahim Raisi, Leonardo Fernandez Viloria, Joe Biden's, Maduro, Maria Corina Machado, Jorge Rodriguez, Rodriguez, Gerardo Blyde, Machado, Maduro's, Washington, Deisy Buitrago, Vivian Sequera, Matt Spetalnick, Julia Symmes Cobb, Will Dunham, Josie Kao Organizations: REUTERS, Rights, European Union and United Nations, Reuters, U.S, Petroleum, Thomson Locations: Miraflores, Caracas, Venezuela, Rights CARACAS, WASHINGTON, U.S, Washington, Maduro, Barbados, Qatar, Houston

Search resuls for: "Maduro"

25 mentions found