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Venezuela – Hugo Chavez – 11 US owned oil rigs to be nationalized

Venezuela Legislature has voted to nationalize 11 oil rigs owned by the US firm Helmerich & Payne

Hugo Chavez

The rigs, located in Monagas, Anzoategui and Zulia states, will be taken over by state oil giant Petroleos de Venezuela (PDVSA)

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Iraq insurgents hack video from US Drones

Iraq insurgents ‘hack into video feeds from US drones’

The dollar’s position as the world’s leading reserve currency is under pressure

Dollar facing ‘power-shift’

A report last week in The Independent claiming that China, Russia and Gulf States are among nations prepared to ditch the dollar for oil trades has heightened the uncertainty surrounding the US currency’s future.