State-owned Petróleos de Venezuela S.A. (PDVSA) generated revenues of $ 8.4 billion between January and July of this year, thanks to increased exports.

According to data on international crude oil sales, there was an increase of 18 % during the first seven months of 2025.

“Average exports between January and July were around 807,000 barrels per day, except for July, a period in which crude oil shipments to the United States ceased following the repeal of General License No. 41 by the Department of the Treasury’s Office of Foreign Assets Control (OFAC) by the Donald Trump administration.”

On the other hand, during the same period, the price of Merey crude—the benchmark for Venezuelan oil on international markets—was $10 lower than the price it had been during the same period in 2024.

M.Pino

Source: elaragueno

(Reference image source: WORKSITE Ltd. on Unsplash)

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The implementation of tariffs imposed by the US President Donald Trump on various countries sparked fear, specifically regarding gold. However, he said this Monday that the precious metal will be tariff-free.

As you may recall, “last week, authorities in his administration imposed tariffs on imports of one-kilogram gold bars.” However, Trump posted on his Truth Social media account on Monday, August 11, that gold will not be subject to tariffs.

The president’s aggressive trade policy has triggered diverse reactions globally. Regarding gold, the United States is one of the largest importers in the world, as it is a key commodity “as a store of value, a tool for economic stability, a strategic asset, and a cultural symbol.”

Analysts have pointed out that the imposition of a tariff on gold would increase import costs, disrupt supply chains, and increase costs for industries dependent on the precious metal, such as jewelry and electronics.

M.Pino

Source: elpais.cr                            

(Reference image source: Scottsdale Mint on Unsplash)

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The oil specialist José Toro Hardy pointed out, in a radio program, that the future of Venezuela lies in gas, particularly non-associated gas. The Caribbean country has large reservoirs throughout the territory that have not yet been explored, so which has great potential.

“The future of Venezuela lies in gas and most of the deposits in the country are virgin and are gigantic reservoirs,” said the economist.

According to Toro Hardy, the Caribbean country, the gas that “we have exploited, to date, is called associated gas: when producing oil what makes the crude oil flow from the reservoir to the surface is the gas it contains.”

Replacing the oil will take time

For some time, various global organizations have been working to replace fossil fuels with other elements that are less polluting and have less impact on the environment. However, the economist points out that there are several years to go before said replacement can take place.

“The replacement of fossil fuels like coal, oil will take longer than expected”, the economist said and added that the war between Russia and Ukraine generated a crisis in the oil area and all of Europe is “desperate for oil” and the international market is requiring the oil supplied by Venezuela and Iran.

M. Rodríguez

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Source: bancaynegocios.com

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By 2021, the renowned digital payments company, PayPal, is expected to exceed the expectations of many with the new proposal called Buy, Hold, and Sell Cryptocurrencies, which intends to double the bet maintained by the company towards cryptocurrencies, blockchain and digital currencies.

Leaving behind its limited cryptocurrency trading service, PayPal CEO Dan Schulman assured that the company is prepared to double its commitment to digital currencies. “The volume of cryptocurrencies traded on our platform far exceeded our expectations,” reported Schulman.

Regarding the acceptance of cryptocurrencies, the executive assured that digital assets will be received “as a financing method when users buy in any of our 29 million stores“, so that by the end of the year they can have a “broad roadmap around cryptocurrencies, blockchain and digital currencies.”

For his part, the CEO reported that the company continues to work hard and actively with regulators and central banks in order to guarantee a future without cash.

The initiative is expected to be extended to “Venmo and selected international markets” in 2021. PayPal also reported that platform users will become more active, generally after purchasing cryptocurrencies.

K.Villarroel

Source: Cointelegraph 

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