Very usefull links


News links




Dow Jones

Oil price



Views and News





At OAS Pence demands that Venezuela suspend ‘So-Called' elections

Andrew Harrer/Bloomberg

Vice president Mike Pence speaks at Organization of American States. Announces new sanctions against ‘narcotics kingpins' -Play Video -Pence Calls For OAS To Kick Out Venezuela, Suspend Elections (Full Speech)

By Justin Sink and Jose Enrique Arrioja

Petroleumworld 05 08 2018

Vice President Mike Pence called on Venezuela to suspend its presidential election later this month because of corruption concerns, declaring that the results would be fraudulent.

The Trump administration joined the European Union in calling on Venezuela to postpone the May 20 election without assurances it will be a free and fair contest. President Nicolas Maduro is seeking a second six-year term, and opposition lawmakers have said security forces have physically threatened them and their supporters.

Maduro, Pence said in a speech to the Organization of American States, “promised people he would restore prosperity but delivered only deep poverty. He promised renewed greatness but he has only brought that nation suffering.”

“The so-called elections in Venezuela scheduled for May 20 will be nothing more than a fraud and a sham,” Pence said. “There will be no real election in Venezuela on May 20 and the world knows it.”

The U.S. also announced new sanctions on three Venezuelans, including Pedro Luis Martin Olivares, a former intelligence official under indictment in Florida on drug trafficking charges, and 20 companies the Treasury Department said were connected to the targeted Venezuelans. The three men were sanctioned under a U.S. law targeting drug kingpins.

Elections in Venezuela are traditionally held in December, but the country's National Electoral Council scheduled the contest for spring -- a move critics say aims to take advantage of divisions within the opposition. The U.S. State Department has said not all political parties have agreed to the elections, limiting the ability of individuals to run.

The U.S. continues to weigh whether to ban imports of Venezuelan oil, which accounts for 95 percent of the country's foreign-currency earnings. Venezuela, a founding member of OPEC, has the world's largest proven reserves and is South America's largest oil exporter. It is the third-largest source of U.S. imported oil.

Hit your target - Advertise with Us

Story by Justin Sink and Jose Enrique Arrioja; With assistance by Saleha Mohsin from Bloomberg. 05 07 2018

We invite all our readers to share with us
their views and comments about this article.
Write to

By using this link, you agree to allow PW
to publish your comments on our letters page.

Any question or suggestions,
please write to:

Best Viewed with IE 5.01+ Windows NT 4.0, '95,
'98,ME,XP, Vista, Windows 7,8,10 +/ 800x600 pixels

November 13 - 15, 2018.

Gubkin University, Moscow
SPE Student Chapter







Editor & Publisher:Elio Ohep/
Contact Email:

CopyRight © 1999-2016, Paul Ohep F. - All Rights Reserved. Legal Information

PW in Top 100 Energy Sites

CopyRight©1999-2017, Petroleumworld ™  / Elio Ohep - All rights reservedThis site is a public free site and it contains copyrighted material the use of which has not always been specifically authorized by the copyright owner.We are making such material available in our efforts to advance understanding of business, environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have chosen to view the included information for research, information, and educational purposes. For more information go to: If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission fromPetroleumworld or the copyright owner of the material.