Venezuela living on the edge
Venezuela's national oil company is under pressure from low prices, plummeting output and several self-inflicted wounds
When news broke in May that Goldman Sachs bought up nearly $3bn in Venezuelan state oil company PdV bonds from the country's Central Bank through a London-based broker, the backlash was intense. Protesters gathered outside the bank's headquarters, accusing the company of extending a financial lifeline to an increasingly autocratic and brutish government. Opposition politicians vowed not to repay the bonds if they take power. That prompted a surreal scene in which socialist vice president Tareck El Aissami vowed to sue the opposition leader for threatening the Manhattan megabank. Goldman Sachs defended itself, hinting that it was betting on a regime change. Life in Venezuela "has to get bette
Also in this section
21 April 2026
After overcoming a COVID-induced demand collapse with several years of successful market management, geopolitical events have conspired to provide the pact’s biggest test to date
21 April 2026
The regime’s policy of using nuclear ambiguity as a deterrent may have failed but it has realised it has other cards to play, while its neighbours are reappraising their approach to security
21 April 2026
As the global energy system undergoes a fundamental realignment, Algihaz Holdings has established itself as a critical player bridging conventional energy markets and the next generation of renewable infrastructure.
21 April 2026
The 25th WPC Energy Congress is taking place from 11-15 October 2026 at the Riyadh Front Exhibition & Conference Center.
