Calendar

The International Monetary Fund is preparing to establish an office in Venezuela, although its opening date and operating terms are still under discussion. Venezuelan authorities have not requested an IMF-backed program or financing.

Oil spills tied to the collapse of more than 30 pipelines have damaged fishing equipment and forced fishers in Zulia to operate farther offshore. The infrastructure failures are deepening the crisis in the local fishing industry and disrupting livelihoods beyond the oil sector.

The International Monetary Fund is pursuing an office in Venezuela as a step toward renewed institutional engagement. Venezuela has not formally requested an IMF assistance program, and no financing agreement is under negotiation.

Urban public transport fares will rise to 220 bolivars starting Thursday. The adjustment follows a monthly indexation formula that keeps the fare equivalent to $0.25.

Chemical industry association Asoquim proposed a 10-year, $10 billion investment program to restore productive capacity. The plan comes as nearly 80% of the country’s chemical plants operate below 40% capacity amid raw-material and foreign-currency shortages.

Several unidentified facilities around Lake Maracaibo remain out of service while spill-related impacts continue across five municipalities. No cause or timetable for restarting operations was disclosed.

Residents protested at the El Rosario junction after three consecutive days of electricity interruptions, highlighting persistent instability in the local power supply. The duration of the disruption and its effect on access through the junction remain unclear.

Colombia’s state-controlled Ecopetrol has renewed discussions with Venezuela about potential oil-sector opportunities. No specific projects, investment commitments, approvals or timelines have been disclosed, so the engagement remains exploratory.

Two wings of a concrete residential building in La Páez collapsed on June 24, leaving the remaining structure severely damaged and disrupting residents’ housing.

Fifty revenue-generating buses seized after carrying opposition supporters during the 2024 presidential campaign remain under government control despite a reported release order. Their continued impoundment has kept transport operators from using key working assets.

Venezuelans continue to face prolonged electricity outages, with a Coro resident reporting daily cuts averaging five to six hours. The government blamed earthquakes, sanctions, rising demand from economic growth and extreme heat, highlighting persistent instability in the power system.

Real estate sales and rentals in La Guaira have fallen by as much as 60%, according to the state’s property chamber. The group partly attributes the sales slowdown to owners demanding payment in foreign currency.

OFAC has cleared the Venezuelan state to sell methanol to the United States, the fourth-largest buyer of the country’s methanol. The authorization is limited to US-bound cargoes and does not signal broader sanctions relief or approval for other destinations.

Municipal authorities confirmed that the urban transit fare will rise to Bs. 220 starting October 1. The previous fare and additional terms of the adjustment were not disclosed.

The government plans to add 1,300 megawatts to Venezuela’s national electricity system before December to ease blackouts. The expansion comes as hotter weather and increased economic activity push power demand higher.