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
6 February 2026
The long close relationship between key supplier Qatar and pivotal buyer Japan becomes even deeper following new landmark deal
6 February 2026
Partnerships across the LNG value chain have evolved over time, growing in both complexity and importance, according to panellists at LNG2026
6 February 2026
Nigeria's mega-refinery is still trying to solve many challenges, all while its owner talks up expansion
5 February 2026
While broadly supportive of EU efforts to tackle methane emissions, representatives of the gas industry warn it could deter supply contracting if timelines and compliance requirements are not made more pragmatic
