Chavez: Big Oil Firms Leaving Venezuela - Mercedes-Benz Forum

LinkBack Thread Tools Display Modes
post #1 of 5 (permalink) Old 06-24-2007, 08:18 AM Thread Starter
Will Moderate For Cigars
cmitch's Avatar
Date registered: Apr 2005
Vehicle: 2002 ML320, 2005 S430 4MATIC, 2010 F150 Crew Cab
Location: City on the TN River
Posts: 10,673
Mentioned: 3 Post(s)
Quoted: 200 Post(s)
Lifetime Premium Member
(Thread Starter)
Chavez: Big Oil Firms Leaving Venezuela

It seems Hugo Chavey is running one step closer to communism. He waits until huge investments are made to make use of his shit based oil, then he seeks to run them out.

CARACAS, Venezuela (Reuters) -- Some major oil companies have rejected Venezuela's terms for the takeover of their multi-billion dollar projects and can leave the OPEC nation, President Hugo Chavez said Friday, days before a deadline for them to strike nationalization deals.

Exxon Mobil (Charts, Fortune 500) , ConocoPhillips (Charts, Fortune 500), Chevron Corp (Charts, Fortune 500). , Norway's Statoil , Britain's BP Plc and France's Total are the targeted companies in projects valued above $30 billion and capable of producing 600,000 barrels per day.

"It seems there are some transnational companies that do not want to accept (the terms)," said Chavez, who met his energy minister to review the progress in negotiations earlier Friday.

"Well if they do not want (to accept the terms), I told the minister to tell them they can go, that they should leave, that we, in truth, do not need them," he added during a political speech to swear in the government's new "central planning committee."

Chavez, who calls Cuban leader Fidel Castro his mentor and is on a drive to nationalize swathes of the economy this year, did not say which companies rejected the government's terms.

Venezuela has said Conoco is providing the most resistance to its plan to take at least 60 percent in four projects in the massive Orinoco oil belt, up from the state company's current average of around 40 percent.

Exxon's negotiations also have been more difficult than those of the four other companies, according to industry sources with knowledge of the talks.

Earlier Friday, Energy Minister Rafael Ramirez also told reporters he knew which companies would leave due to the takeovers, although he did not name them. He has said he expects the bulk of the group of six to stay on.

The government has set a Tuesday deadline for the companies -- some of the world's largest -- to agree to the terms of takeover of their assets in one of the planet's biggest oil reserves.

Those companies that fail to reach an agreement can choose to take Venezuela to court to seek to recover compensation for the loss of their assets.

"(State oil company) PDVSA is capable, we can do it, and we have enough allies in the world, we are not alone. We have plenty of allies in the world to make progress in the Orinoco oil belt," Chavez said.

On May 1, Venezuela carried out a presidential decree and took over the projects' operations. The decree also set Tuesday's deadline and gave a further two months for the legislature to review the terms of the deals.

Some of the companies - including Exxon as recently as Thursday - have said they could continue to negotiate the terms of the new partnerships after Tuesday's deadline.

2005 S430 4Matic 'Morton' W220.183 • 722.671 Rest in Peace

Bells and whistles are thorns and thistles.
cmitch is offline  
Sponsored Links
post #2 of 5 (permalink) Old 06-24-2007, 08:22 AM
Cruise Control
Zeitgeist's Avatar
Date registered: Sep 2004
Vehicle: '87 300TD/'90 300D/'94 Quattro/'89 Vanagon/'01 EV Weekender
Location: Cascadia
Posts: 51,712
Mentioned: 6 Post(s)
Quoted: 1419 Post(s)
Lifetime Premium Member
Sovereignty sucks
Zeitgeist is offline  
post #3 of 5 (permalink) Old 06-24-2007, 08:25 AM
Jakarta Expat's Avatar
Date registered: Aug 2006
Vehicle: PM me to Join the Expat Muslims for Obama Club........
Location: Jakarta, Indonesia
Posts: 17,697
Mentioned: 0 Post(s)
Quoted: 3 Post(s)
I would wonder how much (if any) of their losses they can write off on thier worldwide tax liabilities?
Jakarta Expat is offline  
post #4 of 5 (permalink) Old 06-24-2007, 10:54 AM
Always Remembered RIP
cascade's Avatar
Date registered: Nov 2006
Vehicle: 1991 560SEC AMG
Location: Grass Valley, N. Calif. / Gardnerville, Nevada
Posts: 10,146
Mentioned: 1 Post(s)
Quoted: 16 Post(s)
Send a message via AIM to cascade
I wouldn't be the least bit surprised if at this minute, people in the CIA or the Bush administration somewhere are seriously discussing the establishment of a military operations center somewhere in Venezuela (like that AFRICOM business)

Hugo Chavez is the new Fidel Castro.

And after all, US security "is" involved, with all that Oil there. Halliburton and KBR to be awarded the support contracts, of course, in a no bid scenario.....

<--- superschnelle 300 hp 10:1 ECE euro HV, Hochverdichtung = high compression (11/2011) ... Wie im Freien Fall. Nur horizontal.

"I swear to god, it's like I live in a trailer of common sense, and stare out the window at a tornado of stupidity." >'='<
cascade is offline  
post #5 of 5 (permalink) Old 06-24-2007, 11:28 AM
BenzWorld Elite
FeelTheLove's Avatar
Date registered: Sep 2004
Vehicle: 83 Astral Silver 280 SL
Location: Planet Houston
Posts: 28,829
Mentioned: 0 Post(s)
Quoted: 7 Post(s)
Originally Posted by Zeitgeist
Sovereignty sucks
Maybe the French and Russian oil companies won't be so picky.

Recall that earlier generations faced down fascism and communism not just with missiles and tanks, but with sturdy alliances and enduring convictions. They understood that our power alone cannot protect us, nor does it entitle us to do as we please. Instead, they knew that our power grows through its prudent use; our security emanates from the justness of our cause, the force of our example, the tempering qualities of humility and restraint.

-President Barack Obama, 1st Inaugural address
FeelTheLove is offline  
Sponsored Links

  Mercedes-Benz Forum > General Mercedes-Benz Forums > Off-Topic

Quick Reply

Register Now

In order to be able to post messages on the Mercedes-Benz Forum forums, you must first register.
Please enter your desired user name, your email address and other required details in the form below.

User Name:
Please enter a password for your user account. Note that passwords are case-sensitive.


Confirm Password:
Email Address
Please enter a valid email address for yourself.

Email Address:


  • Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
    Thread Tools
    Show Printable Version Show Printable Version
    Email this Page Email this Page
    Display Modes
    Linear Mode Linear Mode

    Similar Threads
    Topic Author Forum Replies Last Post
    Changed the oil today - it took 9 qts for V6. After leaving it to drain overnight. Kirill R170 SLK-Class 3 05-21-2007 08:09 PM
    Chavez continues to dig that hole deeper.....Venezuela Pulling Out of IMF, World Bank Jakarta Expat Off-Topic 4 05-01-2007 06:02 AM
    Chavez subsidizes oil for richest of Americans DaveN007 Off-Topic 5 09-22-2006 10:07 PM
    Iran - Venezuela Oil Embargo? Teutone Off-Topic 89 08-16-2006 06:23 AM
    Chavez: Venezuela Moves Reserves to Europe lovemyc280 Off-Topic 2 10-01-2005 11:41 AM

    Posting Rules  
    You may post new threads
    You may post replies
    You may not post attachments
    You may not edit your posts

    BB code is On
    Smilies are On
    [IMG] code is On
    HTML code is Off
    Trackbacks are On
    Pingbacks are On
    Refbacks are On


    Title goes here

    video goes here
    description goes here. Read Full Story
    For the best viewing experience please update your browser to Google Chrome