The Trumpet: First Oil, Now Food—Iran’s Revolutionary Guard Sets Up Shop in Venezuela

“This is Iran’s sanctioned military taking advantage of the sanctioned but desperate Venezuelans to make money,” Russ Dallen, the managing partner of Caracas Capital Markets who traces developments in Venezuela, told the Wall Street Journal. “They are not doing it out of the goodness of their heart.” Venezuela’s Rig Count Officially Falls To Zero

With Nabors shutting down its rig activity, Venezuela is now left with zero oil drilling rigs, Russ Dallen, founder of investment bank Caracas Capital, told Houston Chronicle. 

That sends the Latin American nation back more than a century in terms of rig count, to before 1914 when Venezuela’s first oil well was drilled, according to Dallen.