International Trade
Cargo that has arrived
at Puerto Cabello
- 30,000 tons of yellow corn for state agency Corporación de Abastecimiento y Suministros Agrícolas (CASA)
- Over 20 combat vehicles for the National Armed Forces (FANB)
Cargo that has arrived at Bolipuertos Maracaibo
- 5,000 tons of wheat from Canadá
- 78 containers of general cargo
Brazilian ship sinks bearing 5,000 head of
cattle for Venezuela
A Brazilian ship
bearing 5,000 head of live cattle bound for Venezuela sank while still at port
in Vila do Conde in
Northeast Brazil. Crew members emerged unscathed. The cargo was insured and
total losses are estimated at US$ 3.7 million. More in Spanish: (El Mundo, http://www.elmundo.com.ve/noticias/actualidad/noticias/barco-con-5-000-reses-que-venia-a-venezuela-se-hun.aspx#ixzz3o470xh6i)
Oil &
Energy
West Texas oil price
plunges 5.1% to US$ 47.1 per barrel
The price of West Texas intermediate oil (WTI)
has dropped down by 5.1$ to US$ 47.1 per barrel due to profit taking after a
week of strong gains . More in Spanish: (EFE: http://www.efe.com/efe/america/economia/el-petroleo-de-texas-cae-un-5-1-por-ciento-y-cierra-en-47-10-dolares-barril/20000011-2736009)
OPEC's oil output
grows; non-OPEC production expected to decline
The Organization of the Petroleum Exporting
Countries (OPEC) reached a new record in crude oil output, hitting 31.57
million barrels per day (BPD) in September. Its low prices strategy has borne
fruit, as oil supply from OPEC competitors is expected to decline next year. "In 2016, the postponing or cancelling of
upstream projects will likely continue, resulting in contraction of 0.13 mbd in
non-OPEC supply," the OPEC said in its monthly oil market report. The
report noted that the strategy of the 12 OPEC members of defending its market
share instead of oil prices, has managed to curb soaring crude oil supply from
non-OPEC members, especially US shale oil. (El Universal, http://www.eluniversal.com/economia/151012/opecs-oil-output-grows-non-opec-production-expected-to-decline)
Venezuela calls on
OPEC to control output, seeks US$70 floor price
Venezuela this month will unveil a bold new
strategy for rescuing ailing oil prices, one lifted from the OPEC's history
books – a price band that would build an automatic floor for prices at US$ 70 a
barrel. Venezuela's long-time oil minister and current United Nations
ambassador Rafael Ramirez says the proposal – to be presented to a meeting of
OPEC technical advisors on Oct. 21 – would reapply the old mechanism of
progressive production cuts to control prices, with a "first floor"
of US$ 70 per barrel and a later target of YS$ 100 per barrel. "We will try to progressively recover the
price," he said. The proposal offers the first detailed public insight
into Venezuela's months-long global effort to drum up support for measures to
revive oil prices. (Reuters, http://www.reuters.com/article/2015/10/12/us-venezuela-opec-idUSKCN0S61KG20151012;
El Universal, http://www.eluniversal.com/economia/151012/venezuela-to-propose-oil-production-phasing-down-at-opec-meeting)
Commodities
Scarcities worsen despite border closing and
state of siege
Residents of San
Antonio and Ureña in Táchira state, along the Colombian border, say lines to
load up on cheap gasoline have shrunk considerably but expectations raised
about diminished scarcity levels in basic products have not been met and the
situation continues to worsen. More in Spanish: (El Nacional; http://www.el-nacional.com/)
5.000 coal carriers are out of work
Around 5,000 Venezuelans who transport
Colombian coal from the North Santander
area to the ports of La Ceiba and Maracaibo in Venezuela's Zulia state are in the dark as to the future, ever since the
border was closed. Over 1,300 Venezuelan transport units were engaged in moving
Colombian coal to Venezuelan ports. More in Spanish: (El Nacional; http://www.el-nacional.com/)
PDVSA seeks investors
in gold, coal and nickel mining
Eulogio del Pino, Minister for Petroleum and
Mining and President of Petróleos de Venezuela, SA (PDVSA), met with
representatives of various state institutions to outline strategies to attract
investment in the gold, coal and nickel mining industries. The meeting was
attended by Central Bank President Nelson Merentes; José Khan, President of the
Venezuelan Corporation of Mining; and the state company representatives from
Loma de Níquel, CARBOZULIA, and the Guayana Corporatión (CVG). (El
Universal, http://www.eluniversal.com/economia/151010/pdvsa-looks-for-investors-in-gold-coal-and-nickel-mining)
Economy
& Finance
The 2016 Budget and Indebtedness Bill will be presented to the National
Assemby by Finance, Economy and Public Banking Minister General Rodolfo Marco
Torres, next week. Once presented, it will be referred to the Assembly’s
Finance and Economic Development Committee and should be “debated” at the Plenary and passed in December. (Veneconomy, http://www.veneconomy.com/site/index.asp?ids=44&idt=45764&idc=2)
Politics and
International Affairs
Maduro has weakened both the PSUV and "chavismo" by over 20 percentage
points
According to a group
of polling agencies including HERCON, KELLER, DATANÁLISIS and VENEBARÓMETRO,
President Nicolás Maduro has been unable to gain support since he became
president as the "son of Chavez".
His personal support is now down to 18%, along with support for the
pro-government PSUV party, with a shrinking number of Venezuelans still describing
themselves as "chavistas". His efforts to fight crime and scarcity have
been able to stop the downward trend. More in Spanish: (El
Nacional; http://www.el-nacional.com/)
Regime supporters
propose a 3 point agreement for upcoming parliamentary elections
Carabobo governor Colonel Francisco Ameliach,
one of the campaign chiefs for the government coalition has asked the National
Elections Council (CNE) to promote an agreement by all political parties to
"respect the Constitution and, above
all, preserve peace in the nation". He said the CNE must be respected
"as the only sovereign arbiter to
announce election results", along with "respect for bulletins that are issued, not only on the day of elections
but also in ensuing dates". He
charged they have "important
indications that domestic elements are plotting with international elements to
destabilize". Pro regime campaign chief Jorge Rodríguez said pro
government forces have always abided by results, and President Nicolás Maduro
has previously announced he is willing to sign such a document prepared by the
CNE and agree to recognize election results in December 6th parliamentary
elections, and called on the opposition to do likewise. The opposition
continues to insist on independent international observers. More in Spanish:
(Infolatam, http://www.infolatam.com/2015/10/08/chavismo-propone-acuerdo-de-tres-puntos-para-elecciones-parlamentarias/; El Universal, http://www.eluniversal.com/nacional-y-politica/151008/oficialistas-solicitan-firmar-un-compromiso-de-respeto-a-resultados-de; El Nacional; http://www.el-nacional.com/)
...and CNE's Tibisay
Lucena joins in charges of a "smear
campaign"
Tibisay Lucena, the chair of the National
Electoral Council (CNE), has also issued warnings about an alleged smear
campaign against the CNE at both national and international levels, which in
her view "seeks to confuse and
manipulate the public opinion in general on the parliamentary elections to be
held on December 6 of this year." She said that they had "identified the implementation of a
communication strategy against the body, one that we have assessed and found
appropriate to complain about, because what it seeks is to undermine the
peaceful development of the elections, based on the use of false and
manipulated reports, spreading misinformation and unleashing a dirty war."
(Latin American Herald Tribune, http://www.laht.com/article.asp?ArticleId=2397958&CategoryId=10717)
Human Rights Watch calls for verification in
upcoming elections
José Miguel Vivanco,
Human Rights Watch Director for the Americas says parliamentary elections in
Venezuela are crucial to overcoming divisiveness here, and called for
international verification in order to guarantee transparency. "The presence of international observes is
absolutely central in vote counting, preferably on a parallel basis, and with
the ability to guarantee fair competitive conditions for elections...elections
must be competitive, open, transparent and must have credibility".
More in Spanish: (El
Nacional; http://www.el-nacional.com/)
Venezuela again repeats willingness to engage
US in bilateral talks based on respect
Foreign Minister Delcy Rodríguez has again
stated the will of Venezuela's government to continue discussing normal
relations with the US, on a bilateral basis based on respect. She said recent statements by US Secretary of
State John Kerry questioning Venezuelan democracy are proof of low disposition
toward a respectful dialogue. More in Spanish: (Agencia Venezolana de Noticias;
http://www.avn.info.ve/node/323700)
Maduro says Colombia
border will remain closed until peace is achieved
President Nicolás Maduro has said border posts
with Colombia will remain closed until a "border of peace" is developed with the Colombian government.
He added that "terrorism"
has diminished by 96% in the area, and that Venezuela's Prosecutor General is
asking Colombia to extradite an alleged paramilitary chieftain who is
responsible for kidnapping and murdering young Venezuelans. He mentioned no
names or other details. Venezuelan authorities say 250 people have been
arrested in the Táchira state border area, among them 66 military, 28 policemen
and 34 alleged Colombian paramilitaries, and Táchira Governor Lieutenant José
Vielma Mora said most were involved in outbound smuggling of food, medicine and
fuel. More in Spanish: (Infolatam, http://www.infolatam.com/2015/10/12/maduro-dice-que-la-frontera-con-colombia-permanecera-cerrada-hasta-lograr-paz/)
US legislators propose a law favoring
Venezuelan exiles
Four Florida legislators have set forth a law
seeking to grant permanent residence to Venezuelans who migrated to the US
before 2012 and cannot return to Venezuela for political reasons. Republican
Congressmen Carlos Curbelo and Ileana Ros-Lehtinen, along with Democrats Alan
Grayson and Debbie Wasserman have proposed the law. (El Nacional; http://www.el-nacional.com/)
President Maduro lands
in Bolivia for climate change summit
President Nicolás Maduro landed in Cochabamba,
Bolivia, o take part in the Second World People's Conference on Climate Change
and Defense of Life, hosted by his Bolivian counterpart, Evo Morales. The
conclusions drawn in the summit will be presented in the Conference of the
Parties of the United Nations Framework Convention on Climate Change, to be
held in Paris from November 30. While
there he proposed a "green economy"
to "contribute with the Pachamama"
(Earth Mother). Maduro also congratulated Bolivia on its judicial progress
against Chile in gaining access to the sea. He also signed an agreement with
Cuban President Raul Castro to develop a joint plan to comply with the UN's 17
sustainable development objectives over the next 15 years. (El Universal, http://www.eluniversal.com/nacional-y-politica/151012/president-maduro-lands-in-bolivia-for-climate-change-summit; and more in Spanish: El Universal, http://www.eluniversal.com/nacional-y-politica/151013/plan-por-las-metas-del-milenio-une-a-venezuela-y-cuba; Ultimas Noticias, http://www.ultimasnoticias.com.ve/noticias/actualidad/economia/jefe-de-estado-propone-fomentar-una-economia-verde.aspx#ixzz3oROoNz8T; http://www.ultimasnoticias.com.ve/noticias/actualidad/politica/ejecutivo-felicito-a-bolivia-tras-ganar-disputa-co.aspx#ixzz3oRPQT4dQ; AVN; http://www.avn.info.ve/node/324277; http://www.avn.info.ve/node/324278; http://www.avn.info.ve/node/324282; El Mundo, http://www.elmundo.com.ve/noticias/economia/politica/maduro-propone-creacion-de-una--economia-verde-.aspx; El Nacional; http://www.el-nacional.com/)
The following brief is a synthesis of the news
as reported by a variety of media sources. As such, the views and opinions
expressed do not necessarily reflect those of Duarte Vivas & Asociados and
The Selinger Group.
