Venezuela Pitches Petro To OPEC As Unit Of Account For Oil

Authored by Ana Berman via, Venezuela will present its state-backed cryptocurrency Petro as a unit of account for crude oil trading to the Organization .....»»

Category: blogSource: zerohedgeNov 9th, 2018

Venezuela"s Maduro Orders Banks to Adopt Petro Cryptocurrency

Venezuelan banks have been ordered to use the petro, the Maduro government-launched cryptocurrency, as a unit of account......»»

Category: forexSource: coindeskAug 28th, 2018

Venezuela to Present Petro at OPEC as the "Digital Currency for Oil"

Venezuela is hoping the world's oil markets will start using its controversial national cryptocurrency, the petro......»»

Category: forexSource: coindeskNov 10th, 2018

Venezuela Calls US Sanctions Against Its Petro Cryptocurrency ‘Discriminatory’

Venezuela has filed a complaint against the U.S. with the World Trade Organization, highlighting sanctions against the petro as one issue......»»

Category: forexSource: coindeskJan 9th, 2019

Is Venezuela"s Downward Spiral OPEC"s Achilles Heel Or Saving Grace?

Authored by J.....»»

Category: blogSource: zerohedgeJan 8th, 2019

How Venezuela’s Economic Meltdown Has Hit Pensioners Where It Hurts the Most

Venezuela Is paying out pensions in its worthless cryptocurrency, the Petro Venezuela’s government has begun making pension payments in its cryptocurrency, the Petro, instead of the sovereign bolivar, according to a report from.....»»

Category: europeSource: fortuneDec 17th, 2018

Report: Venezuela Is Forcibly Converting Pension Balances to the Petro

Venezuela has reportedly begun automatically converting residents' pensions into its controversial cryptocurrency......»»

Category: forexSource: coindeskDec 12th, 2018

Venezuela to Sell Oil for Petro Cryptocurrency in 2019, Says Maduro

Venezuela's President Maduro has said the nation will sidestep the dollar and use its controversial petro token for oil sales next year......»»

Category: forexSource: coindeskDec 7th, 2018

Ford"s Venezuela unit offers buyouts as output dwindles: sources

Ford Motor Co is offering buy-outs to staff at its moribund plant in Venezuela to reduce its payroll, two union leaders said, as the U.S. automaker seeks to streamline its money-losing South America operations......»»

Category: topSource: reutersDec 5th, 2018

The Oil Powerhouses Replacing OPEC

Authored by Irina Slav via, Three countries currently account for close to 40 percent of global crude oil production and only one o.....»»

Category: blogSource: zerohedgeNov 29th, 2018

Venezuela Officially Launches Sale Of Controversial Petro Coin For Fiat, Crypto

Authored by Ana Berman via, Venezuela’s controversial state-owned cryptocurrency the Petro is now available for purchase for fiat and crypto, Venezuelan Economy Department announced on Twitter Monday, Oct. 29. image cour.....»»

Category: blogSource: zerohedgeOct 30th, 2018

Exclusive: OPEC, allies struggle to fully deliver pledged oil output boost - internal document

OPEC is struggling to add barrels to the market after agreeing in June to increase output, an internal document seen by Reuters showed, as an increase in Saudi Arabia was offset by declines in Iran, Venezuela and Angola......»»

Category: topSource: reutersOct 19th, 2018

Exclusive: Shell seeks to sell Venezuela JV stake to France"s Maurel & Prom - sources

Royal Dutch Shell Plc is negotiating the sale of its stake in a Venezuelan oil joint venture to Paris-based Maurel & Prom , three sources said this week, a move to scale down its crude business in the ailing OPEC-member country to focus on gas......»»

Category: topSource: reutersOct 11th, 2018

The Post-Fiat World Begins: Venezuela"s Cryptocurrency A Necessity To Obtain A Passport

The case for cryptocurrencies sure looks to have gotten stronger over the past week and Venezuela's "Petro" looks like it may be the concept's first "beta test" on a country-wide scale.   We recently reported that the Yale endowment had i.....»»

Category: blogSource: zerohedgeOct 6th, 2018

US Senators Seek Stronger Sanctions on Venezuela"s "Petro" Cryptocurrency

A bipartisan group of U.S. senators are pushing for tighter sanctions against Venezuela's state-backed cryptocurrency, known as the petro......»»

Category: forexSource: coindeskOct 5th, 2018

Citibank"s Russia unit sees surge in foreign currency on sanction fears

Citigroup Inc.’s Russia unit gained more foreign currency holdings from retail depositors than any other bank during the ruble’s crash in August. Clients’ foreign currency current account holdings... To view the full story, click the title link......»»

Category: blogSource: crainsnewyorkOct 1st, 2018

Venezuela to Adopt Controversial Petro Token in Global Trade

Venezuela's president is ordering the use of the petro in international trade, despite doubts the token will be widely accepted......»»

Category: forexSource: coindeskSep 21st, 2018

Why The U.S. Is Suddenly Buying A Lot More Saudi Oil

Submitted by Tsvetana Paraskova of OilPrice For a few months now, OPEC has been boosting production to ease concerns about high oil prices amid expected supply losses from Venezuela and Iran. The cartel’s largest producer and exporter, Saudi Arabia.....»»

Category: blogSource: zerohedgeSep 11th, 2018

Venezuela"s oil-backed petro is an imaginary currency

Reuters/Miraflores Palace/Handout Maduro tried to roll out a digital alternative to the bolivar earlier.....»»

Category: topSource: businessinsiderSep 4th, 2018

Venezuela"s Petro Cryptocurrency Is a Gift to Future Generations

The petro cryptocurrency may be one of the most ill-conceived blockchain projects. But it just might speak to exactly why the tech is gravely needed......»»

Category: forexSource: coindeskSep 2nd, 2018

"No Sign Of The Petro Here": Mystery And Confusion Besets Venezuela"s Crypto "Revolution"

Authored by Marie Huillet via CoinTeleg.....»»

Category: blogSource: zerohedgeAug 31st, 2018