oil

Venezuela: The fall of an oil empire

PUERTO CONCHA: Leaks, rusted pipes, pieces of broken equipment scattered about and staircases leading nowhere: Lake Maracaibo’s oil field is a metaphor for Venezuela’s once-flourishing petroleum industry that is now on its knees. More than a century ago, the Maracaibo basin in northwestern Zulia state was the birthplace of a business that transformed the country into one of the world’s

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