Courtesy of: Associated Press

This week: Venezuelan lawmakers re-elect Diosdado Cabello as the head of the National Assembly, who could become the likely caretaker president if Hugo Chávez does not recover; the state television runs videos of Chávez around the clock trying to portray an image of stability during his absence; PDVSA bonds drop amid concern of a succession crisis in the country; and a 0.8 percent setback is recorded in PDVSA’s refining operations due to problems and operative failures. Meanwhile, Venezuela’s Supreme Court rules that Chávez’s inauguration can be postponed, circumventing the wording in the constitution by characterizing him as a  “president re-elect;” too ill to attend, Chávez becomes the first president in Venezuela’s history to miss his inauguration; on inauguration day, the government carries out a celebration on his behalf, further accentuating his absence; and the Obama administration embarks on a discreet but concerted diplomatic initiative to open channels of communication with Venezuela. Lastly, a low supply of US dollars hampers the normal flow of imports, threatening the supply of goods; and Venezuela’s telecom opens an eighth administrative proceeding against private TV news channel Globovisión.

Venezuela lawmakers elect Chavez ally as Assembly chief, Reuters
Venezuelan lawmakers re-elected a staunch ally of Hugo Chavez to head the National Assembly on Saturday, putting him in line to be caretaker president if the socialist leader does not recover from cancer surgery.

With Chávez Ill and State in Flux, Videos Offer an Image of Stability, New York Times
They run around the clock on state television, highly polished videos of President Hugo Chávez hugging children, kissing grandmothers, playing baseball and reciting poetry.

PDVSA Bonds Drop on Mounting Concern About Chavez Succession, Bloomberg Businessweek
Bonds of Petroleos de Venezuela SA, the state oil company, plunged the most in six months amid concern that there will be a succession crisis if President Hugo Chavez is unable to be sworn for a third term on Jan. 10.

Venezuela’s oil refining slips 0.8% in 2012, El Universal
Problems and operative failures in different refineries, including the explosion reported in Amuay refinery, northwestern Falcón state, in August 2012, are accountable for the setback (0.8%) recorded in the refining operations of state-run oil company Pdvsa in 2012.

Venezuela court endorses Chavez inauguration delay, Reuters
Venezuela’s top court endorsed the postponement of Hugo Chavez’s inauguration this week and ruled on Wednesday that the cancer-stricken president remained the South American OPEC nation’s leader.

A Celebration That Accentuated an Absence, New York Times
President Hugo Chávez is famous for speeches that last for hours, and Thursday should have been a special day for the loquacious socialist to let loose.

In Chavez’s absence, U.S. works to open communication with Venezuela, Washington Post
With cancer-stricken President Hugo Chavez battling for his life, the Obama administration has embarked on a discreet but concerted weeks-long diplomatic initiative to open channels of communication with his sharply anti-American government.

Shortage of US dollars threatens food supply in Venezuela, El Universal
Since Venezuela’s domestic demand of goods is higher than production, the gap is filled with imports. Nonetheless, a low supply of US dollars is currently hampering a normal flow of imports, thus threatening the supply of goods.

Venezuelan telecoms board starts proceedings against Globovisión, El Universal
Seeking sanctions, Venezuela’s National Telecommunications Commission (Conatel) has opened an eighth administrative procedure against private TV news channel Globovision.