The Latest Breaking News from Hugo Chávez

Law will give private companies more control but experts unsure whether changes go far enough for US

Maduro’s Sorbonne-educated successor is talking up an era of ‘reform and opening up’ modelled on China’s post-Mao boom

In the wake of U.S. forces’ arrest of Venezuelan President Nicolás Maduro, U.S. President Donald Trump has said the U.S. is taking over Venezuelan oil production.

Since American forces captured Venezuelan President Nicolás Maduro, plunging the country into uncertainty, there have been hopes for a transition to democracy, the stabilization of its economy, a reduction in drug trafficking and conditions that might allow millions of Venezuelans abroad to return home.

From 1999 onwards, successive governments pursued a strategy linking foreign policy, state financing and the management of the country's main industry. The result was a network of bilateral alliances that channelled much of Venezuela's crude outside conventional buying and selling circuits.

Security chief Diosdado Cabello is nicknamed the Octopus for good reason, with the regime’s fate said to rest with him

U.S. President Donald Trump has ignited a contentious debate over who has the right to control Venezuela’s vast oil reserves.

US President Donald Trump has insisted the United States will now be “running” Venezuela after US forces bombed the capital on January 3 and whisked Venezuelan President Nicolás Maduro and his wife out of the country to face federal charges in New York.

“And when he woke up, the oil was still there…”