Venezuela courting disaster
A Supreme Court ruling has given the president broad authority to strike oil deals. Will there be any takers?
Venezuela's economic and political crisis only seems to know one direction: descent. The latest lurch towards the abyss came after a 30 March decision from the Supreme Court, stacked with loyalists to social president Nicolás Maduro, that effectively dissolved the opposition-led National Assembly and assumed the body's powers for itself. The decision triggered an intense backlash that clearly caught the government off guard. Weeks of protests in the streets of Caracas followed. The head of the Organisation of American States, Luis Almagro, decried the decision as a "self-inflicted coup d'état" and called Maduro's government a "dictatorship". It was even a step too far for at least one person
Also in this section
23 January 2026
A strategic pivot away from Russian crude in recent weeks tees up the possibility of improved US-India trade relations
23 January 2026
The signing of a deal with a TotalEnergies-led consortium to explore for gas in a block adjoining Israel’s maritime area may breathe new life into the country’s gas ambitions
22 January 2026
As Saudi Arabia pushes mining as a new pillar of its economy, Saudi Aramco is positioning itself at the intersection of hydrocarbons, minerals and industrial policy
22 January 2026
New long-term deal is latest addition to country’s rapidly evolving supply portfolio as it eyes role as regional gas hub
