This came as a surprise to me: Exxon wins freeze on $12 billion of Venezuelan assets NEW YORK (Reuters) – Exxon Mobil Corp has won court orders freezing up to $12 billion in Venezuelan assets […]
Tag: Venezuela
Brother, Can You Spare Chavez a Billion?
Now that Chavez has run Venezuela’s oil production into the ground and needs a new cash infusion for his social programs, he is inviting oil companies back in to make investments: Venezuela seeks oil investment […]
Consumers Boil
This is quite timely coming on the heels of my previous essay. I talked about the press picking up and running with the comments of Oil Watchdog’s Judy Dugan as if she were actually a […]
Chavez Had Me Fooled
It seems I have been wrong about Hugo Chavez. I had thought the man didn’t have a clue about the oil business. While companies like ConocoPhillips were pulling in $15.5 billion profits*, they were investing […]
The OPEC Showdown
It has been clear for some time that OPEC members are deeply split over whether $100 oil is good for them in the long-term. Saudi Arabia, having been in this game a long time, probably […]
More Fun in Venezuela
Here’s what can happen if you neglect to feed your cash cow: Former Pdvsa CEO shows concern about production level Luis Giusti, former CEO of Venezuelan state-run oil firm Pdvsa, said the statements made by […]
Venezuela’s Production Difficulties
I think this speaks for itself: Venezuela drops 2007 rig count target by 40 pct CARACAS, July 20 (Reuters) – Venezuela’s difficulties in acquiring oil rigs amid soaring global demand could lead to lower oil […]
Expropriating Venezuela’s Refineries
You heard it here first. Two months ago, I wrote Let’s Confiscate Venezuela’s U.S. Refineries. Looks like I may not have been too far off the mark, as others have started thinking along the same […]
Let’s Confiscate Venezuela’s U.S. Refineries
I recall reading this story a while back: Chavez Considers Sale of U.S. Refineries The implications just sank in today. Chavez, having confiscated the property of U.S. companies and torn up contracts, has property here […]