Tue, 21-Oct-2025

Venezuela: The fall of an oil empire

oil

PUERTO CONCHA: Leaks, rusted pipes, pieces of broken equipment scattered about and staircases leading nowhere: Lake Maracaibo’s oil field is a metaphor for Venezuela’s once-flourishing petroleum industry that is now on its knees. More than a century ago, the Maracaibo basin in northwestern Zulia state was the birthplace of a business that transformed the country … Read more