Why is Volodymyr Zelenskyy nicknamed 'Ze Sheng' (‘Saint Ze’) by Chinese netizens?

I’m from Jilin Province. According to my mother, this year all bus stops in our hometown were completely renovated, and all buses were replaced with new models. During the Dragon Boat Festival, public transportation was reportedly made free citywide. The city is also set to host a marathon soon. There’s also the site where Emperor Qianlong once paid homage to Mount Changbai—last year, it had only a single stone stele erected by the municipal government. Yes, just one stele—essentially an empty plot of land bearing only a place name and nothing else. Now, however, a palace is being built there. I have no idea how the local government can afford this, especially given the current nationwide slump in the real estate market and the difficulty local governments face selling land. But reportedly, ‘The Great Emperor’ visited Beijing and signed numerous contracts, granting Jilin a large number of orders. Northeast China’s revitalization now hinges entirely on these two figures. Grateful…

Crypto’s New Elite Rushing into Oil: Coinbase Co-Founder’s Venezuelan Oil Field Adventure

However, starting in 2026, the situation began to shift. After Nicolás Maduro was arrested by U.S. authorities and Delcy Rodríguez assumed the role of interim president, U.S.–Venezuelan relations rapidly reconfigured. Specifically within the oil sector, Venezuela reformed its petroleum laws to allow greater private-sector participation under new production-sharing models; meanwhile, the Trump administration placed oil at the core of its Venezuela strategy—simultaneously advancing sanctions and contractual adjustments while urging U.S. energy firms to invest approximately $10 billion locally. This has transformed Venezuela’s oil industry into a market undergoing institutional repricing. A country long shunned by global capital due to years of sanctions and economic crisis, once reopened, could yield returns far exceeding those of mature markets. Judging from their subsequent actions, Ehrsam clearly accepted the risks associated with such potential upside. Together with Manuel Iribarren—a Stanford-educated Venezuelan—he co-founded Primavera earlier this year. In February, the two traveled to Venezuela to scout investment opportunities. Following meetings with Venezuelan leaders and senior executives of PDVSA, they settled most favorably on high-risk investments in oil and natural gas—an asymmetric risk–reward structure highly familiar to venture capitalists and precisely what appealed most to Ehrsam. Rather than seeking a 10% undervaluation in a stable, transparent market, this approach entails accepting a high probability of failure in a jurisdiction where few investors dare tread—betting instead on substantial asset revaluation following institutional change. Yet the waters promising such outsized returns run exceptionally deep—not everyone is willing to wade in. Indeed, Trump urged energy giants including ExxonMobil, ConocoPhillips, and Continental Resources (owned by oil tycoon Harold Hamm) to collectively invest $10 billion, but these established players remained steadfastly inactive. ExxonMobil and ConocoPhillips—both deeply entrenched in Venezuela during the Chávez era—had previously suffered nationalization of their assets. These historical claims over expropriated property make them especially sensitive to issues of property rights, arbitration mechanisms, and whether future governments will honor existing contracts. That said, not all oil majors share such caution. Chevron, which has operated in Venezuela for decades, announced in early September that it would invest $7 billion in Venezuelan oil fields over the next five years, aiming to raise its output there to roughly 600,000 barrels per day. According to insiders, the terms of Chevron’s newly formed joint venture with PDVSA are expected to be highly favorable—lowering perceived risks for further investment in the country. ‘Chaotic land grabs benefit no one.’ Alongside traditional energy firms like Chevron, a new wave of smaller, more risk-tolerant independent oil & gas companies—and fresh capital—has emerged in this latest opening of Venezuela’s oil sector. Though diverse in background, they share one conspicuous trait: varying degrees of connection to Trump and his political network.

Gilinski Swaps Venezuelan Oil Field for $500 Million Stake in GeoPark

17 hours ago

Colombian billionaire Jaime Gilinski acquired a controlling stake in GeoPark Ltd. by exchanging rights to Venezuela's Bare oil field in a deal valued at approximately $500 million. The transaction leverages eased US sanctions to boost crude production capacity.

bloomberg

2026-10-09

Gilinski Swaps Venezuelan Oil Field for $500 Million Stake in GeoPark

Gilinski Swaps Venezuelan Oil Field for $500 Million Stake in GeoPark

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