Global Pulse

标签： South America

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  • US oil giant Chevron confirms it will expand operations in Venezuela

    US oil giant Chevron confirms it will expand operations in Venezuela

    NEW YORK — U.S. energy giant Chevron has officially announced a major expansion of its operations in Venezuela, moving forward just days after former U.S. President Donald Trump unveiled a high-stakes framework agreement to develop the Latin American nation’s massive untapped oil reserves that grants the U.S. Pentagon a share of project profits.

    In a public statement released Wednesday, Chevron confirmed it has been allocated additional exploration and production acreage in the Orinoco Belt, a heavy crude-rich region where the company has maintained active operations for decades. Under the new joint venture agreement with Venezuelan partners, the firm plans to inject more than $7 billion in capital investment over the next five years. Once the expansion is fully completed by 2026, the company’s daily production in the country will more than double, reaching approximately 600,000 barrels of crude per day.

    “Chevron’s footprint in Venezuela stretches back more than a century, and our expanded commitment here underscores our confidence in the country’s extraordinary resource potential and its ability to compete for long-term capital in our global portfolio,” said Chevron CEO Mike Wirth in the prepared remarks. “With revised commercial terms and access to new acreage, we are building out a position that will deliver attractive low-cost oil growth, bolster global energy security, and generate unique long-term shareholder value.”

    Per the 2025 Annual Statistical Bulletin from the Organization of the Petroleum Exporting Countries (OPEC), Venezuela holds the world’s largest volume of proven crude oil reserves, totaling more than 303 billion barrels. Saudi Arabia, the global crude export leader, ranks a distant second with 267 billion barrels of proven reserves.

    The official confirmation came one day after an unnamed U.S. official, speaking on background under White House ground rules for a press briefing, previewed the announcement and disclosed that Chevron executives and U.S. Energy Secretary Chris Wright planned to travel to Caracas on Wednesday to formally unveil the new investment package. As the second-largest oil company in the United States, Chevron is the only major U.S. energy firm that maintains a large-scale operational presence in Venezuela, with a history stretching back to 1923. The company currently operates three joint ventures in the country: Petroindependencia and Petropiar, which run extra-heavy crude projects in the Orinoco Oil Belt, and Petroboscan, based in Venezuela’s western Zulia State.

    The expansion move aligns with the Trump administration’s broader energy strategy, which the White House formalized on Monday when it announced a partnership with North American Blue Energy Partners as part of the push to unlock Venezuela’s oil potential. Trump has prioritized reestablishing deep U.S. commercial ties to Venezuela’s oil sector since the capture of former Venezuelan President Nicolás Maduro, with his framing the move as a path to reduce U.S. reliance on crude imports from the Middle East. He has actively courted other major U.S. oil firms to enter the market, claiming Monday that “We have Exxon going in, we have Chevron going in. We have our big oil companies going in.”

    The remark came despite Trump’s own comment in January that he was inclined to block ExxonMobil from entering Venezuela, after Exxon CEO Darren Woods publicly labeled the country “uninvestable.” A spokesperson for ExxonMobil clarified Tuesday that the company’s position on Venezuela has not changed, contradicting Trump’s claim that the firm was preparing to enter the market.

    The sweeping new U.S.-Venezuela energy agreement has faced significant skepticism from industry analysts and legal experts. Many analysts note that Venezuela’s oil production infrastructure has fallen into severe disrepair after decades of underinvestment and mismanagement, and it will take many years to restore output to meaningful levels. Legal experts have also raised questions about whether acting Venezuelan President Delcy Rodríguez holds the legal authority to grant 100-year exploitation rights for 17 oil fields holding 65 billion barrels of reserves, and whether future administrations in either Caracas or Washington could move to overturn the agreement entirely.

  • Wall Street rises as tech stocks climb and oil prices, bond yields hold relatively steady

    Wall Street rises as tech stocks climb and oil prices, bond yields hold relatively steady

    After a gloomy opening to the trading week, Wall Street staged a broad comeback on Wednesday, lifted by strong gains across major technology names and a period of relative stability for both oil prices and Treasury bond yields.

    Big-cap tech and semiconductor stocks led the upward charge, with market heavyweight Nvidia jumping 3.3% — a move that carried outsize influence on broader indexes thanks to the chipmaker’s massive market capitalization. Other tech and communications names also notched solid gains: Meta added 2.2%, Netflix climbed 1.8%, and memory chip producer Micron Technology rose 1.5%. The standout performer of the session was Dell Technologies, which surged 13% to become the top gainer in the S&P 500 after reporting stronger-than-expected second-quarter profits fueled by booming demand for AI-capable computing hardware. The firm also upwardly revised its full fiscal year revenue forecast, sending shares higher. In a counterpoint, cybersecurity firm Palo Alto Networks beat second-quarter earnings expectations thanks to a robust market for AI-powered security solutions, but its stock still tumbled 10.9% in Wednesday trading. The financial sector also contributed to gains, with credit card issuers Capital One Financial and American Express climbing 2.5% and 1.6% respectively.

    By the closing bell, the Dow Jones Industrial Average gained 0.6%, while both the S&P 500 and Nasdaq Composite posted 0.5% increases, putting the benchmark S&P 500 on track to break a three-day losing skid.

    Geopolitical unrest linked to the ongoing six-month conflict between the U.S. and Iran continued to hang over global energy markets, but prices stabilized somewhat after early-week swings. Following U.S. strikes on Iranian targets over the weekend that broke a period of calm in major hostilities, and subsequent Iranian retaliation across Gulf sites, oil prices posted modest gains. International benchmark Brent crude settled 1% higher at $95.63 per barrel, while U.S. domestic crude climbed 0.9% to close at $91.01 per barrel. The conflict has disrupted shipping through the Strait of Hormuz, a chokepoint through which roughly 20% of the world’s daily oil supply transits, triggering a spike in global gasoline and shipping costs that has put additional upward pressure on already stubborn inflation. Energy stocks traded mixed on the session: Chevron edged 0.3% higher after the firm confirmed plans to expand its operational footprint in Venezuela.

    Treasury bond yields, which climbed sharply through the start of the week to put pressure on equities, stayed nearly flat on Wednesday. The 10-year Treasury yield, a key benchmark that influences mortgage and other consumer lending rates, dipped slightly to 4.78%, down one basis point from Tuesday’s close. The 2-year Treasury yield, which moves closely in line with market expectations for Federal Reserve interest rate policy, held steady at 4.39%. Both yields have climbed significantly since the start of 2026, when the 10-year yield sat as low as 4.20% and the 2-year yield hit 3.50%, as investors price in expectations of persistent inflation and future rate hikes.

    Global markets traded lower on the day, with European indexes closing in negative territory and Asian markets finishing lower in overnight trading.

    The rebound comes after a rocky start to September, which follows a mostly positive August that saw every major U.S. stock index post monthly gains. Still, broad anxiety persists across Wall Street, as investors grapple with persistent high inflation, growing government debt loads, and the spillover risks of global conflict to both the U.S. and global economies. Inflation has already squeezed household and business budgets alike, and the previously resilient U.S. labor market has begun to show early signs of softening: payroll processor ADP reported a small dip in private-sector employment in August, though the reading comes on the heels of a Tuesday government report showing unexpected growth in U.S. job openings in July.

    All eyes are now on the U.S. government’s comprehensive monthly employment report for August, scheduled for release Friday, followed by key inflation data next week. These two data releases will play a critical role in shaping the Federal Reserve’s next interest rate decision at its September policy meeting, according to industry analysts.

    “Friday’s employment report, and perhaps even more importantly next week’s inflation data, will play a significant role in determining whether policymakers decide to raise rates in September,” Angelo Kourkafas, senior global strategist in investment strategy at Edward Jones, wrote in a research note.

    The Federal Reserve is caught in a delicate balancing act: it has a dual mandate to support full employment and pull inflation back down to its 2% target, which currently remains stuck well above 3%. Raising the benchmark interest rate would help cool inflation by increasing borrowing costs and slowing overall economic activity, but the move risks further weakening a labor market that is already showing early signs of contraction. As of Wednesday, CME FedWatch data shows investors are pricing in a 64% chance of a rate hike at the central bank’s September meeting.

  • ‘Aura farming’: The video game-inspired youth trend sweeping Latin America

    ‘Aura farming’: The video game-inspired youth trend sweeping Latin America

    On a sunlit beach in Peru’s capital Lima, dozens of young people recently converged to dance, strike playful poses, and showcase wildly creative choreography — all with one shared goal: growing their aura. The gathering was one of the first official “aura battles” held in the country, a tangible offshoot of the viral internet phenomenon “aura farming” that is rapidly capturing the attention of Gen Z creators across Latin America.

    Participants lean into elaborate, playful cosplay, drawing inspiration from comic book heroes, animated movie characters, public figures and even internet memes, competing in informal dance-style showdowns decided entirely by audience applause. The competitor who draws the loudest cheers and brings the most original energy to the floor moves on to the next round. One recent attendee dressed as Spider-Man wowed the crowd with acrobatic forward rolls and push-ups set to thumping techno beats, while another pulled off a sharp, one-legged kicking routine straight out of a popular action video game.

    Originating in video game culture and amplified by viral social media content, aura farming first popped up in community gatherings across Brazil before spreading rapidly across borders. Unlike traditional competitions that focus on technical skill or fame, the trend centers on unfiltered self-expression and positive energy.

    “”Aura farming is about letting your essence flow in a space where you’re in front of other people, but there’s no room for shame,” explained 20-year-old film student Liam González, who attended the Lima event in full costume as the beloved animated character Shrek. Another attendee, 19-year-old Gonzalo Cornelio, drew attention for his costume inspired by former Venezuelan President Nicolás Maduro, replicating the grey tracksuit the leader wore the night he was detained by U.S. military forces.

    The name “aura farming” draws direct inspiration from video game mechanics, where players “farm” or repeatedly collect points and resources to level up their characters. In this trend, the resource being cultivated is positive energy, or “good vibes,” that boost a person’s aura — a term borrowed from spiritual traditions referring to the unseen energy field said to surround every individual. Peruvian digital content creator Fernando Lícito, who brought the aura battle trend to Peru after seeing a viral Brazilian contest clip in June, has organized three sold-out events in the country so far. He emphasized that unlike many competitive youth events, aura battles have no place for conflict: participants never physically touch one another or trade insults, with victory going solely to whoever can get the biggest reaction from the crowd.

    Many participants weave in other popular internet trends into their routines: some copy soccer superstar Cristiano Ronaldo’s iconic “siuu” goal celebration, while others repeat the phrase “six, seven” while moving their hands in a nod to a widely shared viral meme. From its origins in Brazil, the trend has spread to major Latin American capitals including Mexico City, Quito and Buenos Aires, where dozens of participants held a public battle in front of the city’s famous Obelisk monument. It has even jumped across the Atlantic, with public events popping up in Madrid, Burgos and Zaragoza in Spain.

    María Paula Martínez, an arts professor at Colombia’s Los Andes University, notes that the trend’s biggest impact has been moving online community connection into real physical spaces. “It’s not about becoming popular,” she explained. “It’s about putting out good vibes, and having other people recognize that energy.” For many young participants, it provides a low-stakes, joyful outlet to socialize and embrace creativity after years of isolated digital connection during the COVID-19 pandemic.

    Like many viral youth trends, aura farming has drawn a mixed reaction from public officials and institutions across the region. Some local authorities have pushed back against public events: in Lima’s upscale Miraflores district, officials recently scrapped a planned aura battle after organizers failed to secure the required public space permits. In July, the mayor of Cuiabá, a city in southwest Brazil, rejected permit applications for an aura tournament, arguing the event did not serve the public interest, forcing organizers to relocate the gathering to a local university campus. In Costa Rica, the ministry of education has banned aura battles from all public schools, claiming the events could fuel student conflict and disrupt academic activities.

    The trend has found official support in other corners of the region, however. In Mexico, the federal education minister publicly embraced the trend, posting a lighthearted viral video where he joked he was “farming good education” ahead of the new school year. For young participants like González, the pushback from older generations comes as no surprise — and it doesn’t dampen their enthusiasm for the new hobby.

    “My grandmother doesn’t understand what I’m doing, she thinks it’s all silly,” González said. “But we were born in a different era. This is just how we have fun and show who we are.”

  • Guardians reliever Carlos Hernández discloses he was texting before crashing his car in Venezuela

    Guardians reliever Carlos Hernández discloses he was texting before crashing his car in Venezuela

    CLEVELAND — For Major League Baseball relief pitcher Carlos Hernández, a January car crash caused by distracted driving nearly ended his professional career before he could get back to the mound. Now, months after surviving the devastating wreck in Venezuela that left him with multiple life-altering injuries, the 29-year-old right-hander has earned a spot back on the Cleveland Guardians’ 40-man major league roster, closing out a grueling, unlikely journey back to the top tier of American professional baseball.

    In a candid interview with reporters from the Guardians’ dugout during team batting practice, Hernández opened up about the fateful crash that changed his perspective on life and safety forever. Speaking through an interpreter, he said he was texting behind the wheel on January 11 when he lost control of his vehicle on a road outside San Felix, in Venezuela’s eastern Bolívar state. He was traveling with two other passengers: his brother-in-law and a close friend, conflicting with earlier local reports that listed his cousin as a second passenger. All people in the car survived, though everyone sustained injuries, and all have since made full recoveries.

    “When I got in that accident, I was distracted by my phone, texting while I was driving,” Hernández said. “The injuries I got were extremely serious. I broke my right femur, fractured my left arm, sprained my ankle, and suffered a deep cut on my arm that went almost all the way to the bone. I was terrified in that moment, I thought my career was over for good.”

    Today, Hernández says his unlikely return to the majors is nothing short of a miracle. “I feel like being here right now is just a testament of God’s will,” he said. “There’s no ordinary way to explain what I’ve been through and how I got back to this point.”

    After months of intensive physical therapy and rehab work at the Guardians’ Triple-A affiliate in Columbus, Hernández showed enough progress to earn his spot back on the 40-man roster, announced by the team Tuesday. He previously appeared in five games with Cleveland toward the end of the 2024 season, before the crash took place that off-season. Over the course of his professional career, Hernández has spent most of his time with the Kansas City Royals, pitching for the team between 2020 and 2024, with short stints with the Philadelphia Phillies and Detroit Tigers before joining Cleveland last year.

    Guardians manager Stephen Vogt said the organization has supported Hernández through every step of his recovery, checking in on him and his family repeatedly in the months after the crash. “I spoke to him right after the accident happened, and then checked in a couple more times once he got to Arizona to start rehab,” Vogt said. “Our first priority was always making sure he and his loved ones were safe and healthy, because some things are so much bigger than baseball. It’s absolutely incredible that he’s back on the mound and returning to the big leagues. I know he and his family have every reason to be incredibly proud of this milestone.”

    For Hernández, his story is more than just a comeback story — it’s a warning to drivers everywhere. “I want what happened to me to serve as a reminder for everyone: never text and drive,” he emphasized. “Thankfully, everyone in my car survived this. But that doesn’t mean this mistake can’t have permanent consequences for you and the people you love. I hope my experience stops other people from making the same dangerous choice I made that day.”

  • Venezuela’s main airport partially resumes commercial flights after deadly earthquakes

    Venezuela’s main airport partially resumes commercial flights after deadly earthquakes

    Nearly 10 weeks after two of the deadliest and strongest earthquakes to hit Venezuela in more than a century, the South American nation has taken a key step toward recovery by partially restarting commercial activity at its primary international gateway.

    On Tuesday, Simón Bolívar International Airport, located 20 kilometers north of the capital Caracas in the Maiquetía district of coastal La Guaira state, welcomed its first commercial passengers since the twin 7.2 and 7.5 magnitude tremors struck on June 24. The powerful quakes, which hit just 39 seconds apart along Venezuela’s heavily populated coastal mountain range, left more than 6,500 people dead and displaced roughly 17,900 who lost their homes. Severe structural damage forced an immediate full closure of the airport, destroying sections of its runways, damaging the air traffic control tower, and rendering main passenger and cargo terminals unsafe for use.

    To enable the phased restart while permanent structural repairs move forward, authorities constructed a 10,000-square-meter temporary passenger processing hub out of modular metal structures in the airport’s existing parking lot. The temporary facility is equipped with full passenger amenities, including check-in counters, climate-controlled waiting lounges, complimentary Wi-Fi access, on-site medical services, and public restrooms. Due to the modified layout, passengers will be shuttled between the temporary terminal and departing aircraft via ground bus transportation.

    According to official projections, the new temporary setup can accommodate up to 2,168 passengers per day in this initial operational phase. Transportation Minister Francisco Garcés told reporters on Tuesday that the government expects to restore 25% of the airport’s pre-earthquake flight volume in this first stage. Officials plan a gradual ramp-up of capacity over the coming months, targeting 40% of pre-disaster operations within a few months, and 60% by the end of 2024 or early 2025. Garcés confirmed that international safety oversight organizations completed required inspections and formally certified the airport’s readiness to resume commercial operations.

    The restart began with 11 weekly round-trip flights: seven domestic routes and four international services operated by Panama’s Copa Airlines and Spain’s Air Europa. Additional carriers, including Spain’s flag carrier Iberia, are set to add their services to the airport in the coming weeks. Prior to the Tuesday restart, all international flights bound for Venezuela were diverted to smaller regional airports in Carabobo state, 168 kilometers southwest of Caracas, and Anzoátegui state, 314 kilometers east of the capital, forcing passengers to endure hours of additional overland travel to reach the capital.

    The disaster hit La Guaira state, Venezuela’s second smallest by area, particularly hard. Most of the earthquake-related fatalities were recorded here, where 440,000 residents, most from low-income backgrounds, rely heavily on tourism, commercial activity, and jobs tied to the airport and the country’s second-largest port, both located within the state’s borders. The tremors also caused widespread damage across the capital Caracas and neighboring central-western states including Carabobo, Miranda, Aragua, and Yaracuy.

  • After Messi’s farewell, what is next for Argentina’s national team?

    After Messi’s farewell, what is next for Argentina’s national team?

    BUENOS AIRES – After a storied 21-year international career that culminated with lifting the 2022 FIFA World Cup trophy, Argentine football icon Lionel Messi has formally announced his retirement from the national side, closing one of the most legendary chapters in the history of the global game.

    The 39-year-old, who leaves the side as Argentina’s all-time leading goalscorer with 125 international strikes, made the announcement public via an Instagram post this Monday. “I gave it my all; I have nothing left to give,” Messi wrote. “Besides, there are young players coming up who deserve to be here.”

    Messi made his senior international debut for the Albiceleste in 2005, and went on to make a record-breaking mark on World Cup history: he appeared in six editions of the tournament, holds the all-time record for most World Cup matches played (34) and most World Cup match victories (23). While the timing of his international departure had long been anticipated given his age, the official confirmation has sparked an outpouring of emotion from current teammates and generations of fans who grew up watching him lead Argentina’s line.

    For Enzo Fernández, the 25-year-old star midfielder who made his international debut just months before the 2022 Qatar World Cup, the reality of a national camp without Messi is difficult to imagine. “I was just a kid, calculating the age gap between us to see if I might one day get to play alongside you,” Fernández said. “It’s hard for me to picture the next training camp without you — stepping onto the pitch and not seeing you up front in that No. 10 jersey. … We’re going to miss you dearly, Captain.”

    With Messi’s era officially over, all attention now turns to what comes next for the Argentine national side, a program that reached the latest World Cup final just six weeks prior to Messi’s announcement. The biggest question hanging over the side is simple: can Argentina’s renowned youth development system produce another generational talent to fill the void left by the greatest player of his era?

    This is not the first time Argentina has faced this challenge. The same uncertainty gripped the nation in 1994, when Diego Maradona’s international career ended abruptly after a positive drug test at the U.S. World Cup. It took more than a decade for a player of Messi’s caliber to emerge to claim the iconic No. 10 role, and 36 years before Argentina lifted the World Cup trophy again following Maradona’s retirement.

    Jorge Valdano, a 1986 World Cup champion and veteran sports analyst, told the Associated Press that Argentina’s deep football culture creates the perfect conditions for elite talent to emerge. “Argentina has a deep-rooted culture. Players grow up learning the craft on the street and at local clubs; football permeates everything,” Valdano said. “In that environment, a genius is far more likely to emerge. But to become Messi, you need to win both the genetic lottery and the social lottery.”

    At present, no active Argentine player matches Messi’s unparalleled technical brilliance and on-field impact. But there are several promising young prospects already in the senior squad in contention to step into the playmaking role that Messi dominated for two decades. Both Nico Paz and Thiago Almada shared the pitch with Messi during the 2026 World Cup, and while neither delivered a standout performance during the tournament, both have shown strong club form. Paz earned recognition as the best midfielder in Serie A last season with Como, while Almada recently joined Argentine powerhouse River Plate after a stint at Atlético Madrid.

    Argentina has already proven it can collect results when Messi is unavailable: in the final years of his international career, recurring injury issues forced Messi to miss more than 20 national team matches, and the side still maintained a strong winning record in his absence. During World Cup qualifying, manager Lionel Scaloni adjusted his tactical setup to pair center-forwards Julián Álvarez and Lautaro Martínez, while giving Almada and Paz opportunities to fill the traditional attacking playmaker role long held by Messi.

    Even with that proven adaptability, the magnitude of the gap Messi leaves remains undeniable. His match-winning performances throughout the 2022 World Cup, where he repeatedly dragged a collectively struggling Argentine side to victory, underscore just how impossible it will be to replace his impact on the biggest stages.

    Finding a successor to Messi is not the only question facing Argentine football’s next chapter. Scaloni, the manager who led the side to its most successful era in modern history – including two Copa America titles and one World Cup crown – has already hinted he could step down from his role by the end of the year, following Argentina’s 2026 World Cup final defeat to Spain. With Messi’s retirement now official, retaining Scaloni, whose current contract runs through December, has become a top priority for the Argentine Football Association (AFA) to steer the squad through this uncertain transition period.

    Fortunately for the Albiceleste, much of the current core roster is young enough to remain in peak form for the 2030 World Cup, which Argentina will co-host alongside Uruguay, Paraguay, and Chile. Key young pillars of the squad include defenders Cristian Romero and Lisandro Martínez (both 28), full-back Facundo Medina (27), midfielders Enzo Fernández (25), Alexis Mac Allister (27), and Valentín Barco (22), and forwards Giuliano Simeone (23) and Julián Álvarez (26).

    The first major test for the transitioning side will come at the 2028 Copa America. For the immediate future, Scaloni – who currently resides in Spain – is set to travel to Buenos Aires in the coming days to finalize plans for a series of friendly matches scheduled for September, October, and November. The AFA has not yet confirmed the opponents for these fixtures.

  • Oil giant Chevron is expected to announce it will expand operations in Venezuela, US official says

    Oil giant Chevron is expected to announce it will expand operations in Venezuela, US official says

    WASHINGTON — A senior United States government official, speaking on condition of anonymity in line with briefing rules established by the White House, confirmed Tuesday that American energy giant Chevron is on the cusp of announcing a major expansion of its oil operations in Venezuela. The formal rollout of the new investment initiative is scheduled for Wednesday, when senior leaders from Chevron and U.S. Energy Secretary Chris Wright will travel to Caracas to make the official announcement. As the second-largest oil producer headquartered in the United States, Chevron holds a unique position among American energy firms: it is the only U.S. oil company that maintains a large-scale operational footprint in Venezuela, which holds the world’s largest proven crude oil reserves. The upcoming announcement comes just one day after the White House formally confirmed a new partnership between U.S. authorities and Canada-based North American Blue Energy Partners. This collaboration aligns directly with former President Donald Trump’s broader policy push to unlock development of Venezuela’s vast underutilized oil reserves, a priority that has shaped U.S. energy and foreign policy toward the South American nation in recent years.

  • Days after Trump announces Venezuela oil deal, White House fills in some of the details

    Days after Trump announces Venezuela oil deal, White House fills in some of the details

    WASHINGTON – The White House formally introduced a landmark partnership with North American Blue Energy Partners (NABEP) on Monday, advancing former President Donald Trump’s policy initiative to unlock and develop Venezuela’s underutilized oil industry. The agreement, which establishes a new joint venture between the U.S. and the Venezuelan-led energy firm, grants the U.S. Pentagon a direct ownership stake in a holdings controlling roughly one-fifth of the South American nation’s massive proven oil reserves.

    The disclosure comes several days after Trump announced what he billed as “the biggest oil deal in history,” with new details released publicly Monday evening clarifying key terms of the sweeping agreement that had been withheld by the White House since the initial announcement. NABEP, which is owned by prominent Venezuelan businessman Alejandro Betancourt, already operates as the second-largest oil producer in Venezuela, trailing only U.S.-headquartered Chevron.

    Under the terms of the deal, Venezuela’s interim government led by acting President Delcy Rodríguez has granted the new joint venture 100-year development rights to 17 oil fields holding 65 billion barrels of proven reserves. According to White House documentation, the majority of these fields were previously controlled by energy firms based in Russia and China.

    The agreement allocates a 35% ownership stake in the new joint venture to the U.S. Department of Defense, while the U.S. State Department has secured a guarantee to purchase 20% of all oil output from the fields at production cost. Betancourt’s NABEP has committed to investing $100 billion to build and upgrade critical oil extraction and transportation infrastructure across the concession area.

    The Trump administration’s push for this deal follows a January military operation that resulted in the capture of former Venezuelan President Nicolás Maduro on federal charges of narcoterrorism and drug trafficking, clearing a major political hurdle for the initiative to move forward.

    Administration officials have framed the agreement as a financially risk-free arrangement for U.S. taxpayers, noting that the deal comes at “zero cost” to the federal government. The U.S. will also hold veto power over all board appointments, and a majority of the joint venture’s board members will be U.S. citizens.

    “The agreement with NABEP is governed by U.S. law and falls under the exclusive jurisdiction of U.S. courts, and NABEP will retain independent, reputable U.S.-based auditors, legal counsel and strategic advisers,” the White House outlined in an official fact sheet published alongside the new details.

    Despite the administration’s optimistic framing, energy and policy analysts have expressed widespread skepticism that the deal will deliver on its near-term promises, noting that it will likely take years of sustained investment and development to meaningfully restart and scale oil production in the concession. Even so, Trump and his senior advisors argue that the deal lays the groundwork to establish a major new oil producing power in the Western Hemisphere.

    Former U.S. government energy policy advisors have also warned that the agreement carries significant long-term political risk. Changes in administration in either Venezuela or the United States could lead to future legal or political challenges to the deal’s legitimacy and terms, creating uncertainty for investors and stakeholders.

  • Tandem bicycle club in Ecuador’s capital leads blind riders to new adventures

    Tandem bicycle club in Ecuador’s capital leads blind riders to new adventures

    In the mountain-ringed capital of Quito, Ecuador, a 19-year-old community organization is redefining what freedom and inclusion mean for people living with visual impairment. What started as a spontaneous, one-off outing has grown into a thriving cycling collective that has opened up new worlds of adventure for more than 100 blind and low-vision residents across the country.

    Franklin Ochoa, a 44-year-old Quito local who lost his vision 16 years ago, is one of the group’s most passionate and adventurous participants. Before losing his sight, he never imagined he would take on long-distance cross-country cycling challenges — but since joining Ciegocleta, a club whose name blends the Spanish words for “blind” and “bicycle,” he has already checked a 1,000-kilometer (621-mile) trip spanning most of Ecuador off his bucket list. For Ochoa, the feeling of rolling into a new town on two wheels brings unrivaled joy. “When I arrive on a bike in a new city I feel like shedding tears of happiness,” he shared. “I love speed and I always tell my guide to let go of the brakes.” His next ambition is even more ambitious: a multi-month overland ride from his home country all the way to Mexico, and he has already found a volunteer partner ready to join the journey.

    The story of Ciegocleta begins with Miguel Ramos, a Quito resident who loved cycling and built his own custom tandem bikes in his spare time. Ramos originally constructed the multi-seat cycles to ride Quito’s popular weekly *ciclopaseo* — an event that closes major city avenues to motor vehicles, opening the space exclusively for cyclists and joggers — with his own children. Everything changed when one of his children was unable to join a ride, and he spontaneously invited his blind neighbor to take their place. That single outing turned into a regular tradition, and the informal group of tandem rides with sighted guides gradually evolved into the structured non-profit community Ciegocleta is today. The club now offers multi-seat bikes ranging from two-seat tandems to three and four-seat models that accommodate multiple visually impaired riders per trip.

    Today, the organization counts 150 registered members, with roughly 30 riders turning out for the weekly Sunday rides that remain the club’s core activity. Before each public ride, the group prioritizes safety and mutual understanding: visually impaired participants receive detailed safety guidance, while participating sighted volunteers complete a perspective-shifting exercise, riding a short distance with their eyes covered to experience the vulnerability and trust their riding partners navigate on every trip. For long-time member Ximena Lozano, a 54-year-old psychologist who was born without sight, the club has transformed her daily life. After spending much of her younger years confined to indoor activities like reading, writing, and web surfing, Ciegocleta gives her a consistent reason to explore the outdoors. “It gives me the chance to experience freedom,” she explained.

    The work of Ciegocleta fills a critical gap in accessibility for Ecuador’s visually impaired community. Official government data puts the total number of people living with vision impairment in the country at roughly 56,000. While blind Ecuadorians have made steady progress in accessing equal employment opportunities in recent years, inclusive access to recreational and sports activities remains a largely unmet need.

    Volunteers say the experience of participating in the club is just as transformative for them as it is for the visually impaired riders. José Paéz, one of the club’s long-time volunteers, joined after his father-in-law lost his sight rapidly to illness and fell into depression. Bringing his father-in-law to the club’s free rides became a way to help him regain his joy for life. Even for experienced cyclists, guiding a tandem bike requires new skills and patience. “At first it felt scary to lead a blind person on a bike,” Paéz recalled. “Keeping a tandem bike balanced and sustaining the rhythm is not as easy as when you use a regular bike.”

    For founder Ramos, the work of the club is about more than just cycling — it is a model for what genuine social inclusion looks like. “This is true inclusion,” he said. “We have blind people who are now enjoying cycling without any limits.”

  • Across Latin America, ‘aura battles’ burst onto the scene

    Across Latin America, ‘aura battles’ burst onto the scene

    A vibrant new social trend has rapidly captured the attention of young people across Latin America, with informal ‘aura battles’ emerging as one of the most talked-about youth activities in the region. Unlike traditional competitions that measure physical skill, academic performance or artistic talent, these novel contests center entirely on one intangible quality that many believe shapes personal and professional success: charisma.

    Participants in aura battles go head-to-head in friendly showdowns, where they work to convince judges and audiences that their personal ‘aura’ — the unique magnetic energy and presence they project — outshines that of their competitors. What began as a niche inside joke shared on social media platforms has quickly snowballed into a widespread cultural phenomenon, with gatherings popping up in major cities from Mexico City to Buenos Aires, and viral challenge clips racking up millions of views across TikTok, Instagram and YouTube.

    The sudden popularity of aura battles among Latin American youth reflects a broader cultural shift toward celebrating soft skills and personal authenticity in a post-pandemic world. After years of social distancing and remote interaction that left many young people feeling disconnected, these low-stakes, high-energy competitions offer a playful space for self-expression and connection. Unlike high-pressure competitive activities that focus on formal achievement, aura battles invite participants to embrace their unique personalities, turning the simple act of being oneself into a friendly game.

    Cultural observers note that the trend also taps into growing public fascination with the concept of aura and personal magnetism across global social media. What makes the Latin American iteration unique, they add, is how it blends regional cultural values of warm interpersonal connection and expressive communication with the viral mechanics of internet culture, creating a trend that feels both deeply rooted in local culture and perfectly suited for the digital age. As participation continues to grow, many organizers are now planning larger, public aura battle events that draw crowds of hundreds of spectators, cementing the trend’s place in contemporary Latin American youth culture.