Hugo Chavez

President Hugo Chavez said today that Venezuela will not recognize a ruling by the World Bank tribunal in a case involving Latin America's largest oil-producing country and Exxon Mobil (NYSE: XOM), the largest U.S. oil company. Exxon Mobil was recently awarded $746.9 million by the International...

For Western oil companies looking to tap bountiful reserves of crude, South America is a prime destination. After all, the continent is home to two OPEC members, Ecuador and Venezuela. And if that's not reason enough, South America's second- and third-largest oil producers, Brazil and Colombia, are...

Well, that's one way to play the booming gold market. In a move to capitalize on high gold prices, Venezuelan President Hugo Chavez announced Wednesday that his government will nationalize the gold industry inside Venezuela. The government will also repatriate all gold reserves currently held...

Venezuelan President Hugo Chavez is back in his homeland after a stay in Cuba to receive treatment for an unspecified form of cancer. Chavez arrived just in time for Venezuela's July 5 Independence Day celebrations, although his role may be limited somewhat by his recent surgery to remove cancer...

After a heated battle between former/still sort of leftist and army rebel Ollanta Humala and Keiko Fujimori, the daughter of imprisoned former Peruvian President Alberto Fujimori, voters in the South American country went to the polls on Sunday electing Ollanta as their new president with 51.5% of...

As conditions at Japan's Fukushima Dai-ichi nuclear power plant worsen with the growing threat of a meltdown caused by damage from last week's devastating earthquake and tsunami, the risk associated with the use of nuclear energy as a power source is being reevaluated around the world. Leaders in...

Venezuelan President Hugo Chavez needs cash to pay for all his campaign promises as he seeks re-election in 2012. Chavez has promised to build new public housing complexes, boost social programs, and renovate the Caracas subway. To pay for such programs, he has brought up selling off Venezuela's U....

BP (NYSE: BP), Europe's second-largest oil company by market value, has received permission from Venezuela's government to discuss the sale of the British oil giant's assets in the oil-rich South American country. In August, Venezuelan officials said BP would need the approval of President Hugo...

General Cable Corp (NYSE: BGC) expects to incur a pre-tax charge ranging from $40-$45 million because of the devaluation of Venezuelan currency. The devaluation of currency was done by the Venezuelan President Hugo Chavez to boost local production. The bolivar is pegged at 2.6 to the U.S dollar...

Hugo Chavez is known to be a man of dramatic actions. His government sent shock waves by dramatically devaluing the Venezuelan bolivar over the weekend. The move impacts oral care giant Colgate(NYSE: COL) which has stated that it would have to take charges throughout fiscal 2010. Colgate, according...