Exactly on January 22nd, the collection of the requisite papers for granting of concessions began as the stage prior to the execution of operational agreements with the Venezuelan Petroleum Corporation (CVP), a subsidiary of state-run oil company Petróleos de Venezuela (Pdvsa), appointed to handle the program.

The consortium comprising US Mobil Oil Company; Germany's Veba Oel A.G. and Japanese Nippon Oil was the highest bidder with the twofold offer of a 50-percent PEG (price earnings to growth) and a bond of USD 103,999,999. The result took experts by surprise, because the really highest bid, viewed as insurmountable by many, came from Shell-Exxon. Ten out of the 11 bidders were consortiums, with Amoco being the only one single company.

The Venezuelan Congress had endorsed the oil opening agreements as the starting point towards private sharing in the major Venezuelan oil and gas industry based on a profit-sharing schedule. The business schedule was estimated to yield about USD 245 million to the government. During the three first years of the process, proceeds would total approximately USD 1 billion.

In the local election for mayors and state governors, ex Miss Universe Irene Sáez was reelected in Chacao, a buoyant municipality of Miranda State. The first time she won was in 1992.

In Caracas, oddly enough, the Directorate for Intelligence, Security, and Prevention (Disip) captured astrologist José Bernardo Gómez, for anticipating in his weekly column the death of President Caldera. Later, the offender clarified that he meant "political death."

Venezuela welcomed Pope John Paul II for the second time. His tour included his blessing to the Catia prison inmates. Later, Father Matías Camuñas lamented that the waiving hands behind bars were those of police agents.

The 26th Summer Olympics were held in Atlanta, United States, from July 19th through August 4th, 1996. A total of 10,310 athletes -6,797 men and 3,513 women- represented 197 countries. The contest included 26 sports and 271 specialties.

José María Aznar became the fourth head of the Spanish government after the reestablishment of democracy following the death of Francisco Franco. Aznar succeeded Felipe González and stopped for eight years almost 14 years of absolute socialist hegemony.

On October 31st, Philips aired its decision to stop manufacturing the Digital Compact Cassette (DDC) format. However, the corporation noted that the supply of tapes and technical service of the equipments for end users would remain until the end of 2006. Just four years earlier, the format had been introduced into the market.

On November 5th, Bill Clinton was reelected President of the United States.