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International Reserves
The BCV's international reserves measure the country's capacity to sustain imports and external payments; their level is a key indicator of Venezuela's macroeconomic solvency.
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15Venezuela opens the week on three fronts: Brazil at the table, a fight over its debt, and the U.S. in its gold mines
Last week the opening produced signatures; now it measures who governs it: whether the table with Brazil leaves deals, whether the debt is awarded on a process not by hand, and under what architecture —with the U.S. inside— the gold flows.
Shell signs Phase I of the Loran field and the debt restructuring already has a draft price
The new permit regime is already producing contracts in gas, debt and agriculture; what it does not yet produce is what would sustain them: a stable barrel, reserves that hold, and a standing judicial arbiter.
Washington rewrites the rules of Venezuela's oil and gold into a single framework, with an explicit veto on Chinese capital
The opening is no longer a collection of permits but a regime: wider than ever, administered in Washington and revocable with a single signature.
Venezuela's State seizes Bolívar's gold by force, 672 MW of idle hydropower restart under a U.S. license, and the bolívar holds on reserves
The record barrel funds Venezuela's recovery but buys no structure: the State reorders the gold rent by force, the power grid restarts only with a U.S. license, and the bolívar holds by spending reserves. Volume flows; the rest is the pending test.
The U.S. blockades Venezuela's sanctioned crude by sea and presses on its oil law, as a Middle East truce cheapens the barrel
Washington controls all four levers of Venezuela's oil revenue —cash, rules, route and now the price— so its record export volume decides less and less.
Venezuela widens its economic opening on several fronts as inflation falls to 6.3%, a 19-month low
The week opens with Venezuela widening its economic opening —contracts, the power grid and non-oil exports—; the question is how much is structure and how much still depends on the Executive's permits.
The State prepares to offer its assets through the Caracas Stock Exchange as global investment banks and the IMF move closer to Venezuela
The institutional capital and the mechanism to sell it state assets advance fast; the judicial arbiter that would give those contracts certainty is being recomposed this week with no guarantees of independence.
The top U.S. military officer lands in Caracas to back the transition, a Nasdaq SPAC lines up US$2.25 billion and the PDVSA-Crypto trial stays stuck
Venezuela's transition gains its strongest guarantee —the highest-ranking U.S. soldier in Caracas— and draws capital, but the money answering is still speculative and the institutions that should sustain it still do not work.
Venezuela opens its power sector to private capital, sends Rodríguez to India for petrodollars and hires lawyers for its defaulted debt
Venezuela sells its oil at the fastest pace in years, yet opens to private capital the electricity it cannot sustain, seeks capital in India and adds lawyers to its debt rework: the flow grows, the capital to run it does not appear.
Weekly close: Washington halts prosecutors and delists tankers, the AN installs the Friendship Group with the U.S. and the opposition signs the Panama Manifesto
Washington clears Delcy Rodríguez's legal path, the Chavista parliament institutionalizes the rapprochement and the opposition signs in Panama to negotiate her exit — normalization runs on three lanes that do not coordinate.
Exxon sits with the U.S. Embassy in Caracas, Venezuela goes to Houston for inputs and Darren Woods crosses Canadian heavy oil data with the Faja
Exxon stops being a rumor and turns into bilateral meetings and operational engineering, Saudi Arabia cedes its Indian share and Caracas opens a Drilling School — three movements that fix the upstream timeline.
Caracas redesigns itself in 90 days, India receives 319 kbpd from Venezuela and LNG Energy commits US$200M to upstream
The State apparatus reengineering, the oil flow to India and the return of U.S. private capital run at once on the same second-quarter timeline — and the operational question is whether the three are coordinated or each responds to a different principal.
The TSJ is being redesigned in 11 days, Chevron prepares +50% at Petropiar over two years and the BCV consolidates the third consecutive month of intervention above US$1.0 billion
The court that arbitrates contracts under the new Hydrocarbons Law opens applications until June 6; Chevron enables digital channel for Venezuelan suppliers in its Orinoco footprint; the BCV executed US$1.35B intervention in May across twenty universal banks. Abroad, Washington announces a trip of the acting president to India that Caracas has not yet confirmed.
Weekly close: Exxon nears Venezuela deal, Conoco rejects 95% take, Delcy heads to India and BVC raises capital
The apertura now has a name moving and a name objecting — Exxon close to an announcement, Conoco putting a numeric ceiling on what the framework can ask.
Venezuela Hydrocarbons speaks in Houston, DOJ charges Saab in Miami, Aeroméxico schedules Caracas
Houston, Miami and Mexico City concentrate Venezuelan activity today on the same axis — the Hydrocarbons Ministry at the AAPG, Saab in SDFL federal custody, Aeroméxico fixing October for the return to Maiquetía. Three documents the same day; the question now is which one produces a verifiable next step before June.
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