Petroleos de Venezuela SA, the state-owned oil company, and China National Petroleum Corp will invest over $10 billion to produce oil in the Faja del Orinoco region and refine at least some of it in China.
The venture may produce as much as a million barrels a day, Rafael Ramirez, the minister of energy and oil […]

Explosions rocked Mexico yesterday as attacks on six pipelines disrupted oil and gas supplies and forced thousands from their homes, just weeks after leftist rebels set off a string of pipeline bombs.
State energy monopoly Pemex said there were no injuries from the blasts, most of which were in Veracruz on the Gulf of Mexico, but […]

From today, up to a million people on income support will be eligible for half fares on London’s buses under Ken Livingstone’s oil deal with Hugo Chávez, Venezuela’s president.
Single parents, carers, the long-term sick and disabled people will benefit from the plan, first mooted during Mr Chávez’s visit to the UK last year, paying 50p […]

Hugo Chavez has infuriated his critics by laying out the road map for moving his oil-rich nation to a socialist state, proposing a radical constitutional reform which could have at its centre indefinite re-election for himself.
Addressing the National Assembly, Chavez laid out 33 changes he plans to make to the constitution he introduced in 1999. […]

Ecuador’s government is planning an additional investment of $180 million into the state-owned oil company Petroleos del Ecuador, or Petroecuador, to halt declining production levels, the Economy Minister Fausto Ortiz has said.
Without this investment, Petroecuador’s oil production will likely fall to 50 million barrels this year, down from the expected 60 million forecasted by the […]