Falling oil prices are raising questions about whether Venezuela, Iran and Russia can sustain their ambitions.

Venezuela will take control of cement plants and offices belonging to Mexico’s Cemex as of midnight Monday night after failing to reach an agreement in nationalization talks, the government said.

The major Western oil companies are finding it harder than ever to find new prospects even though they are awash in profits and eager to expand.

President Hugo Chávez is intensifying state control of Venezuela’s economy through new takeovers of private companies.

President Hugo Chávez is intensifying state control of Venezuela’s economy through new takeovers of private companies.

Government electricity officials gave different reasons for the blackout, which lasted more than two hours in parts of Caracas.

President Hugo Chávez says shareholders of Sidor, the country’s largest steel maker, are demanding excessive compensation for the company’s nationalization.