International oil companies have been searching for crude off the coast of Cuba for the past few years, but all came up short. In hindsight, did the drilling program make sense?
The partnership between state-owned oil companies makes Venezuela a key third party in Argentina's ongoing dispute with a Spanish energy firm.
Chevron has been in Venezuela since the 1920s when politicians were heavier handed than Chavez. Now, Chevron in Venezuela may be too big to nationalize, writes a guest blogger.
Foreign companies look to be pulling out of oil exploration in Cuba, and Havana Club rum is fighting to retain its name in US markets, writes a guest blogger.
Many have criticized Argentina's move to renationalize its oil as a populist bid likely to isolate it from the global economy. But the takeover is in line with changing power dynamics in the region.
President Cristina Kirchner's plan to seize a majority stake in oil company YPF SA, owned by Repsol YPF of Spain, is causing diplomatic tensions with Spain and the European Union.