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In 2018, Venezuela's debt grew to US$156 billion [310] and as of March 2019, its reserves had dropped to US$8 billion. [311] With the exception of PDVSA's 2020 bonds, [312] as of January 2019, all of Venezuela's bonds are in default, [313] and Venezuela's government and state-owned companies owe nearly US$8 billion in unpaid interest and ...
Venezuela has experienced a marked deficit in the generation of electrical energy. The immediate cause of the energy crisis was a prolonged drought that caused the water in the reservoir of the Simón Bolívar Hydroelectric Plant to reach very low levels. [ 1 ]
The International Energy Agency shows how Venezuela's oil production has fallen in the last years, producing only 2,300,000 barrels (370,000 m 3) daily, down from 3.5 million in 1998. However, the oil incomes will double its value in local currency with the recent currency devaluation. [152] Venezuela has large energy subsidies.
Agriculture in Venezuela accounts for approximately 4.7% of GDP, 7.3% of the labor force and at least one-fourth of Venezuela's land area. [7] Venezuela exports rice, corn, fish, tropical fruit, coffee, pork and beef. Venezuela has an estimated US$14.3 trillion worth [28] of natural resources and is not self-sufficient in most areas of ...
Hugo Chevez died from cancer last night after 14 years as President of Venezuela. In the short term, Chavez's death means little for the oil markets, which shrugged off the news. The question now ...
A private equity group expects a contrarian bet it made this year on Venezuela's oil and gas sector to pay off soon, with the socialist government making reforms to attract capital to the OPEC ...
Venezuela has been producing oil for nearly a century and was an OPEC founder-member. In 2005, Venezuela produced 162 million tons of oil, which is 4.1% of world's total production. By the oil production Venezuela ranks seventh in the world. [4] Venezuela is the world's eight oil exporter and fifth largest net exporter. [4]
Preliminary data compiled by Venezuela's central bank shows the economy shrank by 16.6 percent in 2017 compared with the year before, two sources familiar with the matter said on Thursday, the ...