Petroleos De Venezuela News
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A U.S. man held in Venezuela on suspicion of espionage was playing the part of a documentary filmmaker to penetrate the government’s circle of supporters, Interior Minister Miguel Rodriguez Torres said today.
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Ultra-low-sulfur diesel fell and crack spreads narrowed after a refinery in Venezuela resumed full rates and as gasoil sank in Europe after German unemployment rose in April, signaling weaker demand for exports.
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Nicolas Maduro was sworn in as Venezuela’s president after a week in which rising tensions with the opposition over the disputed April 14 vote undermined investor confidence in how the government will manage the world’s largest oil reserves.
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Bahamas Petroleum Co., the only explorer searching for oil off the Atlantic archipelago, expects to find crude even after efforts off nearby Cuba failed.
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Venezuelan bonds plunged the most in 15 years as seven people died in street protests demanding a vote recount of President-elect Nicolas Maduro’s victory, adding to concern that instability will undermine the economy.
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Nicolas Maduro is counting on a wave of sympathy for late Venezuelan President Hugo Chavez to win election on April 14. Should he succeed, he’ll be on his own as he confronts accelerating inflation, shortages of consumer goods and weakening growth.
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Brent crude fell to its lowest level in nine months and West Texas Intermediate dropped below $90 a barrel, as economic growth eased unexpectedly in China, the world’s second-largest crude consumer.
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Venezuela will hold a second dollar auction on a complementary currency system created last month after presidential elections are held on April 14, Oil Minister Rafael Ramirez told reporters yesterday during an interview.
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The International Swaps & Derivatives Association, a financial industry derivatives group, is being probed as part of a European Union antitrust investigation into how data on credit derivatives is shared.
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Petroleos de Venezuela SA, the state oil company, sold 2 million barrels of fuel oil to PetroChina Co. in a spot tender, according to a person with knowledge of the transaction.
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