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LAHT/
Because of a water shortage and power outages, President Hugo Chavez wants Venezuelans to shower quickly. He stressed that shampooing can be done in one minute, another minute to soap-up and a third to hose down and...no singing, please!
"Some people sing in the shower, in the shower half an hour. No, kids, three minutes is more than enough. I've counted, three minutes, and I don't stink, " he said during a televised Cabinet meeting.
Showing posts with label Venezuela. Show all posts
Showing posts with label Venezuela. Show all posts
17 October 2009
Repsol Confirms Big Gas Find With Oil In Venezuela.
BLOOMBERG/
Spain’s Repsol confirms its new natural gas deposit found in Venezuela's waters equals up to 1.4 billion barrels of oil. The deposit is located in shallow waters off the country’s northwestern coast, where Repsol has been prospecting since 2006.
With roughly 5.5. trillion to 7.7. trillion cubic feet of gas, the field surpasses the total reserves of Venezuela’s neighbor Colombia.
The Cardon IV field is the biggest in the history of Venezuela, which discovered the reserves as part of a 50-50 exploration partnership with Italy’s Eni. Some light crude oil was also found.
Spain’s Repsol confirms its new natural gas deposit found in Venezuela's waters equals up to 1.4 billion barrels of oil. The deposit is located in shallow waters off the country’s northwestern coast, where Repsol has been prospecting since 2006.
With roughly 5.5. trillion to 7.7. trillion cubic feet of gas, the field surpasses the total reserves of Venezuela’s neighbor Colombia.
The Cardon IV field is the biggest in the history of Venezuela, which discovered the reserves as part of a 50-50 exploration partnership with Italy’s Eni. Some light crude oil was also found.
11 October 2009
Venezuela Claims New Coltan Reserves...And $100 Billion In Potential Gold Ore.
LAHT/
As a result of an aerial survey carried out with Iranian cooperation, Venezuela claims the existence of “significant” coltan deposits south of the Orinoco River in Eastern Venezuela, as well as proven gold reserves valued at $100 billion. Coltan is a "strategic" black mineral that combines niobite and tantalite and is used in cell phones, computer chips and aviation equipment. Reportedly, only seven countries in the world have coltan reserves.
As a result of an aerial survey carried out with Iranian cooperation, Venezuela claims the existence of “significant” coltan deposits south of the Orinoco River in Eastern Venezuela, as well as proven gold reserves valued at $100 billion. Coltan is a "strategic" black mineral that combines niobite and tantalite and is used in cell phones, computer chips and aviation equipment. Reportedly, only seven countries in the world have coltan reserves.
05 October 2009
Venezuelan Bolivar Demand Plummets As Bond Demand Soars.
BLOOMBERG/
Venezuela’s "strong bolivar" weakened in the unregulated parallel market after President Hugo Chavez said demand for a government dollar bond sale in the local market was MORE than SIX TIMES the $3 billion offered.
The bolivar fell 1.9 percent to 5.66 per dollar, according to traders. Chavez said that the government received orders worth $19.5 billion from investors, who buy the bonds with bolivars and re-sell them in international markets to circumvent currency controls and obtain dollars. The amount of bids sparked concern that investors who are shut out of the offering may turn to the parallel market to buy dollars.
Venezuela’s "strong bolivar" weakened in the unregulated parallel market after President Hugo Chavez said demand for a government dollar bond sale in the local market was MORE than SIX TIMES the $3 billion offered.
The bolivar fell 1.9 percent to 5.66 per dollar, according to traders. Chavez said that the government received orders worth $19.5 billion from investors, who buy the bonds with bolivars and re-sell them in international markets to circumvent currency controls and obtain dollars. The amount of bids sparked concern that investors who are shut out of the offering may turn to the parallel market to buy dollars.
28 September 2009
All About Venezuelan Chocolate.
GLOBALPOST/
In the 19th century, cacao was one of Venezuela’s main products. But with the discovery of oil in the early 20th century, it has dwindled in importance for Venezuelan governments.
While Venezuela’s cacao is highly regarded all over the world, why does so little of the finished product — the chocolate — come from Venezuela?
In the 19th century, cacao was one of Venezuela’s main products. But with the discovery of oil in the early 20th century, it has dwindled in importance for Venezuelan governments.
While Venezuela’s cacao is highly regarded all over the world, why does so little of the finished product — the chocolate — come from Venezuela?
27 September 2009
The Bank Of The South...For Latin American...Finally Official.
BLOOMBERG/
The Bank of the South, a finance bank of South American countries, will start with $7 billion in capital and will grow to $20 billion.
The Presidents of Argentina, Brazil, Bolivia, Ecuador, Paraguay, Uruguay and Venezuela signed the foundational document on the sidelines of the Africa-South America Summit in Margarita Island, Venezuela after almost four years of attempts to form a regional financial institution.
“It’s our bank, to bring our reserves, those that were in countries in the North, to increase lending between ourselves,” Venezuelan President Hugo Chavez said yesterday.
The Bank of the South, a finance bank of South American countries, will start with $7 billion in capital and will grow to $20 billion.
The Presidents of Argentina, Brazil, Bolivia, Ecuador, Paraguay, Uruguay and Venezuela signed the foundational document on the sidelines of the Africa-South America Summit in Margarita Island, Venezuela after almost four years of attempts to form a regional financial institution.
“It’s our bank, to bring our reserves, those that were in countries in the North, to increase lending between ourselves,” Venezuelan President Hugo Chavez said yesterday.
24 September 2009
Chavez Plans $5.7 Billion Bolivar Bonds Sale.
BLOOMBERG/
Venezuela will sell as much as 12.15 billion bolivars ($5.7 billion) of bonds in the local market by year-end. The government will sell fixed and floating-rate securities that are ONLY tradable in the LOCAL market. With the bonds, Venezuela hopes to pull money out of circulation, decreasing demand for dollars that pushed the currency to a record low in the unregulated market this year.
Venezuela will sell as much as 12.15 billion bolivars ($5.7 billion) of bonds in the local market by year-end. The government will sell fixed and floating-rate securities that are ONLY tradable in the LOCAL market. With the bonds, Venezuela hopes to pull money out of circulation, decreasing demand for dollars that pushed the currency to a record low in the unregulated market this year.
Venezuela's Lust For Beauty Queens.
GLOBALPOST.COM/
"The South American country spends millions of hours and dollars grooming its candidates for beauty competitions, and no event encapsulates Venezuelans' obsession with the female form more than the annual Miss Venezuela pageant."
And a macho attitude about women and beauty contests still persists there. During a press conference, Joaquin Riviera, the event's producer described the girls as “lomitos” or “loin steaks.” He seemed stunned when asked if comparing girls to cuts of meat was demeaning. “What would you call them?” he said."
"The South American country spends millions of hours and dollars grooming its candidates for beauty competitions, and no event encapsulates Venezuelans' obsession with the female form more than the annual Miss Venezuela pageant."
And a macho attitude about women and beauty contests still persists there. During a press conference, Joaquin Riviera, the event's producer described the girls as “lomitos” or “loin steaks.” He seemed stunned when asked if comparing girls to cuts of meat was demeaning. “What would you call them?” he said."
20 September 2009
Is An Arms Race Brewing In South America?
GLOBALPOST.COM/
South America is on arms buying spree with major purchases by Venezuela and Brasil.
South American countries increased military spending by 30 percent from 2007 to total of more than $51 billion in 2008. Venezuela, Brasil and Colombia especially are showing new weapons strength and defending their military buildups.
South America is on arms buying spree with major purchases by Venezuela and Brasil.
South American countries increased military spending by 30 percent from 2007 to total of more than $51 billion in 2008. Venezuela, Brasil and Colombia especially are showing new weapons strength and defending their military buildups.
16 September 2009
Some Experts Question The Size Of Venezuela's Big Gas Discovery.
LAHT/
Some analysts question the size of the newly found reserves at Perla 1X well in Cardón IV Block which may be equivalent to some 1.3 billion barrels of gas liquids and also the quality and the reliability of the certification.
Some analysts question the size of the newly found reserves at Perla 1X well in Cardón IV Block which may be equivalent to some 1.3 billion barrels of gas liquids and also the quality and the reliability of the certification.
14 September 2009
Venezuela Gets $2.2 Billion Line Of Credit From Russia For Arms.
AP/
"The Russian government approved financing for $2.2 billion. For what? For weapons, and we must thank them," Chavez said. "We've decided to install a powerful anti-air defense system."
Last week, Chavez said the deal also included the purchase of ground-to-ground missiles with a range of up to 186 miles (300 kilometers). He said they were needed to improve Venezuela's defenses.
"The Russian government approved financing for $2.2 billion. For what? For weapons, and we must thank them," Chavez said. "We've decided to install a powerful anti-air defense system."
Last week, Chavez said the deal also included the purchase of ground-to-ground missiles with a range of up to 186 miles (300 kilometers). He said they were needed to improve Venezuela's defenses.
13 September 2009
Chavez Buys Missiles From Russia.
AFP/
Venezuelan President Hugo Chavez announced that his country would take delivery of Russian-made missiles with a range of 300 kilometers(185 miles).
"We have signed some agreements with Russia. Soon we will begin receiving some missiles," Chavez said. He stressed the reliability of the Russian weaponry, but added that his country had "no plans to attack anybody."
Venezuelan President Hugo Chavez announced that his country would take delivery of Russian-made missiles with a range of 300 kilometers(185 miles).
"We have signed some agreements with Russia. Soon we will begin receiving some missiles," Chavez said. He stressed the reliability of the Russian weaponry, but added that his country had "no plans to attack anybody."
Caracas Hit by 6.4 Quake.
LAHT with Map/
Caracas and central Venezuelan cities were shaken Saturday by a magnitude-6.4 earthquake at 4:06 p.m. local time. It was most powerful around the city of Valencia.
Caracas and central Venezuelan cities were shaken Saturday by a magnitude-6.4 earthquake at 4:06 p.m. local time. It was most powerful around the city of Valencia.
12 September 2009
Repsol Makes Mammoth Gas Find Off Venezuela.
BLOOMBERG/
Spain’s oil company Repsol-YPF announced finding a gas field off Venezuela with as much as 8 trillion cubic feet of fuel, equivalent to 1.2 to 1.4 billion barrels.
The potential gas is enough to supply all of Spain for more than five years.
Spain’s oil company Repsol-YPF announced finding a gas field off Venezuela with as much as 8 trillion cubic feet of fuel, equivalent to 1.2 to 1.4 billion barrels.
The potential gas is enough to supply all of Spain for more than five years.
09 September 2009
Opinion: The Dangerous Link Between Iran And Venezuela.
LAHT. WONK WARNING! By former NYC D.A. Robert Morgenthau at the Brooking Institute.
"Iran and Venezuela are beyond the courting phase. We know they are creating a cozy financial, political, and military partnership, and that both countries have strong ties to Hezbollah and Hamas. Now is the time for policies and actions in order to ensure that the partnership produces no poisonous fruit."
"Iran and Venezuela are beyond the courting phase. We know they are creating a cozy financial, political, and military partnership, and that both countries have strong ties to Hezbollah and Hamas. Now is the time for policies and actions in order to ensure that the partnership produces no poisonous fruit."
08 September 2009
Hugo Chavez Does The Venice Film Festival.
LAHT.
Venezuelan President Hugo Chavez strolled the red carpet at the Venice Film festival before the official screening of Oliver Stone's documentary “South of the Border."
Chavez called the docu a work that will serve to “put the South before (the eyes of) Europe and the world.”
Venezuelan President Hugo Chavez strolled the red carpet at the Venice Film festival before the official screening of Oliver Stone's documentary “South of the Border."
Chavez called the docu a work that will serve to “put the South before (the eyes of) Europe and the world.”
Venezuela To Sell Iran Gasoline...At No Cost.
LAHT.
Venezuela has agreed to export 20,000 barrels per day of gasoline to Iran.
Hugo Chavez said the deal is valued at $800 million. "This amount will be deposited in a fund established in Iran and will serve to finance the purchase of equipment and technology," Chavez said.So Iran will pay for the gasoline by exporting machinery and technology to the Latin American nation.
Venezuela has agreed to export 20,000 barrels per day of gasoline to Iran.
Hugo Chavez said the deal is valued at $800 million. "This amount will be deposited in a fund established in Iran and will serve to finance the purchase of equipment and technology," Chavez said.So Iran will pay for the gasoline by exporting machinery and technology to the Latin American nation.
04 September 2009
Refugees Flee Colombia As Army Fights Guerrillas.
GLOBAL POST.COM.
The Colombian government claims success in its war against armed groups. But the flow of Colombian refugees across the border is actually increasing.
The Colombian army is pushing paramilitaries and guerrillas into new areas, creating waves of displacement. Many refugees choose Venezuela because of favorable laws.
One estimate is that there are about 200,000 Colombian refugees currently in Venezuela.
The Colombian government claims success in its war against armed groups. But the flow of Colombian refugees across the border is actually increasing.
The Colombian army is pushing paramilitaries and guerrillas into new areas, creating waves of displacement. Many refugees choose Venezuela because of favorable laws.
One estimate is that there are about 200,000 Colombian refugees currently in Venezuela.
01 September 2009
Venezuela's Debt Piling-Up.
LAHT.
Faced with the drop in oil prices from all-time highs, Venezuela has renewed borrowing to shore up the gap in the national finances. One of the reasons -- “it’s an election year,” notes an economist.
Calculations show domestic and foreign debt repayments totalling some $19.6 billion between the second half of this year and 2011.
Of this, roughly $10 billion will be due on foreign debt, with a further $9.6 billion on the domestic account. The overall total of state debt is estimated at $50.3 billion, although this apparently doesn’t include the cost of compensating private companies taken over under Chávez’s repeated nationalizations and expropriations.
Faced with the drop in oil prices from all-time highs, Venezuela has renewed borrowing to shore up the gap in the national finances. One of the reasons -- “it’s an election year,” notes an economist.
Calculations show domestic and foreign debt repayments totalling some $19.6 billion between the second half of this year and 2011.
Of this, roughly $10 billion will be due on foreign debt, with a further $9.6 billion on the domestic account. The overall total of state debt is estimated at $50.3 billion, although this apparently doesn’t include the cost of compensating private companies taken over under Chávez’s repeated nationalizations and expropriations.
Caracas Is World's 15Th Most Expensive City.
LAHT.
Caracas is more expensive than London in a new survey.
While London slipped out of the world's top 10 most expensive cities for the first time since 2001 -- sliding to 16th place from third--Caracas surged from 89th to the 15th most expensive city in the world.
Mercer's Cost of Living Survey reports that the strong US dollar and a Venezuelan bolivar that is fixed to it, made Caracas more expensive than London.
Caracas is more expensive than London in a new survey.
While London slipped out of the world's top 10 most expensive cities for the first time since 2001 -- sliding to 16th place from third--Caracas surged from 89th to the 15th most expensive city in the world.
Mercer's Cost of Living Survey reports that the strong US dollar and a Venezuelan bolivar that is fixed to it, made Caracas more expensive than London.
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