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Conoco Phillips Soezing PDVSA Assets #4751601
05/08/18 09:16 PM
05/08/18 09:16 PM
Joined: Oct 2014
Posts: 2,429
San Antonio, TX
Nyogtha Offline OP
Nyogtha  Offline OP
Joined: Oct 2014
Posts: 2,429
San Antonio, TX
After its recent judgement win, Conoco Phillips has begun seizing assets of PDVSA, the Venezuelan national oil company, that are outside Venexuela in the Caribbean. This involves the Dutch government since these assets are in yhe Netherlands Antilles. PDVSA has ordered tankers to head back to Venezuela, assuming to avoid potential for these ships and their cargoes at other ports.

https://mobile-reuters-com.cdn.ampproject.org/c/s/mobile.reuters.com/article/amp/idUSKBN1I70RA

While production in Venezuela continues to decline due to shortages of everything except manpower.

https://www.rigzone.com/news/wire/oil_su...154526-article/

This is among the factors driving worldwide crude oil prices upward.

There is actually discussion on privatizing PDVSA.


https://oilprice.com/Latest-Energy-News/World-News/Ex-Venezuela-Oil-Boss-PDVSA-Is-Collapsing.html

Last edited by Nyogtha; 05/08/18 09:19 PM.

"No matter how paranoid you are you're not paranoid enough. Tell the truth. Reach as many people as you can with it. That's your weapon." - Susanne Modeski, aka "Holly" to The Lone Gunmen
Re: Conoco Phillips Soezing PDVSA Assets [Re: Nyogtha] #4751628
05/08/18 09:49 PM
05/08/18 09:49 PM
Joined: Sep 2015
Posts: 5,955
Kalifornia Kollective
BrocLuno Offline
BrocLuno  Offline
Joined: Sep 2015
Posts: 5,955
Kalifornia Kollective
Good for our companies. But more woes for the Venezuelan economy and the real hardships its citizens are facing. I really feel sorry for those folks ...

Yeah, they should not have the situation the have, but it's real tough to force changes when only the Govt has the firepower to enforce any action ... I hope the rest of the "Americas" can help change the situation in the country ...


Formerly in marine engineering. In an earlier life I owned my own petroleum tank truck, and hauled for the majors and independent's.
Re: Conoco Phillips Soezing PDVSA Assets [Re: Nyogtha] #4751633
05/08/18 10:13 PM
05/08/18 10:13 PM
Joined: Mar 2008
Posts: 5,873
South Florida
bubbatime Offline
bubbatime  Offline
Joined: Mar 2008
Posts: 5,873
South Florida
Burn Venezuela down and rebuild it. Its their only hope. Their govt has failed them.


17 Chrysler Pacifica Mobil 1 5W30
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Re: Conoco Phillips Soezing PDVSA Assets [Re: Nyogtha] #4751696
05/09/18 02:45 AM
05/09/18 02:45 AM
Joined: Mar 2004
Posts: 973
Albany NY
ted s Offline
ted s  Offline
Joined: Mar 2004
Posts: 973
Albany NY
and we all want higher fuel prices

Re: Conoco Phillips Soezing PDVSA Assets [Re: bubbatime] #4751706
05/09/18 03:41 AM
05/09/18 03:41 AM
Joined: Mar 2015
Posts: 11,242
In the shop
53' Stude Offline
53' Stude  Offline
Joined: Mar 2015
Posts: 11,242
In the shop
Originally Posted By: bubbatime
Burn Venezuela down and rebuild it. Its their only hope. Their govt has failed them.
I

Exactly. Steep price to pay for road that country went diwn


09' Camry LE, 141,020 miles

PP 5w30 and TG 4967
Re: Conoco Phillips Soezing PDVSA Assets [Re: ted s] #4751756
05/09/18 06:28 AM
05/09/18 06:28 AM
Joined: Jun 2015
Posts: 4,280
New England
Virtus_Probi Offline
Virtus_Probi  Offline
Joined: Jun 2015
Posts: 4,280
New England
Originally Posted By: ted s
and we all want higher fuel prices

Backing out of the Iran nuke deal is going to help drive them up, too, unfortunately.


2014 Forester XT, 90000 miles
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