Five months after Venezuela nationalized dozens of oil service contractors in Zulia state, the once-bustling industrial dock on Lake Maracaibo is nearly abandoned, and the 16 red flags raised to celebrate the takeovers are already tattered and faded.
Leftist President Hugo Chavez called on Venezuelans on Wednesday to stop singing in the shower and to wash in three minutes because the oil-exporting nation is having problems supplying water and electricity.
The deep waters off the coasts of countries like Brazil and Sierra Leone have become hot spots for large discoveries of oil this year as exploration continues to move further from shore.
Wednesday, 16 Sep 2009 | Source: The Associated Press
The Miss Venezuela pageant is getting leaner. The legendary beauty contest that has produced six Miss Universe winners — including the current one and the last one — has been forced to eliminate 10 contestants this year to cut costs amid an economic downturn.
Russia and Venezuela on Saturday moved closer to an oil venture deal and discussed arms trade, forging a partnership that may drag Russia into a row over the U.S. military presence in Colombia.