Venezuela’s oil industry—rich in reserves, a crucial Allied resource in World War II, a founding member of OPEC—is grinding toward a halt. Venezuela has greater oil stores than any other country. But after years of corruption, mismanagement and more recently U.S. sanctions, its oil output has dropped to a tenth of what it was two … Read more
MEXICO CITY—Millions of dollars obtained from foreign bribes during a presidential campaign. Bags of cash to lawmakers in exchange for approving a historic opening of Mexico’s oil industry. A former sitting president making deals with his favorite contractor to share the spoils of big government contracts. Those allegations by Emilio Lozoya, a disgraced former chief … Read more
Fighting between Islamic extremist rebels and Mozambique’s army over a key port is threatening to disrupt the East African nation’s burgeoning natural-gas developments, including a multibillion-dollar project led by French energy giant Total SA . The insurgent group, which is affiliated with Islamic State, seized control of the Mocimboa da Praia port this month and … Read more