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Thanks to Chinese and Russian loans, Venezuela's new Sicad 2 foreign exchange system may mitigate shortages, but will it keep protests from spreading?

Recent discussions when in Caracas and Maracaibo have made clear that as soon as the late Venezuelan President Hugo Chávez died, the strategy of Petróleos de Venezuela S.A. (PDVSA) became “pragmatism” in the face of “necessity.”

New efforts by Venezuela’s national oil firm, PDVSA, to raise its lagging production. Is this really a change in strategy?

Venezuela’s state-owned oil company, PDVSA, said yesterday that it will pay Exxon Mobil $255 million over 60 days in compensation for assets it nationalized in 2007.

The United States announced new sanctions on Tuesday against Venezuela’s state oil company PDVSA and six other foreign oil and shipping firms that trade with Iran.

President of Uruguay José Mujica met Venezuelan President Hugo Chávez in the presidential palace this morning during his first official visit to Caracas. Venezuelan Foreign Minister Nicolás Maduro received Mujica on Tuesday afternoon

Venezuela’s state-owned oil company PDVSA will have to import at least six shipments of gasoline and other refined petroleum products to meet local demand due to production stoppages at key local refineries.