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#4751601 - 05/08/18 09:16 PM Conoco Phillips Soezing PDVSA Assets
Nyogtha Offline

Registered: 10/13/14
Posts: 2265
Loc: 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.

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

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

There is actually discussion on privatizing PDVSA.

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

#4751628 - 05/08/18 09:49 PM Re: Conoco Phillips Soezing PDVSA Assets [Re: Nyogtha]
BrocLuno Offline

Registered: 09/06/15
Posts: 5410
Loc: 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.

#4751633 - 05/08/18 10:13 PM Re: Conoco Phillips Soezing PDVSA Assets [Re: Nyogtha]
bubbatime Offline

Registered: 03/18/08
Posts: 5575
Loc: South Florida
Burn Venezuela down and rebuild it. Its their only hope. Their govt has failed them.
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#4751696 - 05/09/18 02:45 AM Re: Conoco Phillips Soezing PDVSA Assets [Re: Nyogtha]
ted s Offline

Registered: 03/01/04
Posts: 966
Loc: Albany NY
and we all want higher fuel prices

#4751706 - 05/09/18 03:41 AM Re: Conoco Phillips Soezing PDVSA Assets [Re: bubbatime]
car51 Offline

Registered: 03/12/15
Posts: 10086
Loc: Southwest PA
Originally Posted By: bubbatime
Burn Venezuela down and rebuild it. Its their only hope. Their govt has failed them.

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

#4751756 - 05/09/18 06:28 AM Re: Conoco Phillips Soezing PDVSA Assets [Re: ted s]
Virtus_Probi Offline

Registered: 06/25/15
Posts: 3934
Loc: 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.
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