PDVSA oil rigs in Venezuela (TalCual)
Throughout 2012, and especially after President Hugo Chávez’ death in early March 2013, Venezuela’s national oil firm, Petróleos de Venezuela S.A. (PDVSA), has taken measures beyond anything done in the past decade to raise its lagging production. While the likely impact merits cautious analysis, the drivers of the Bolivarian Republic’s scramble for increased oil revenues are clear. … Continue reading
Posted in Chavez, Chavez lagacy, Chavez legacy, China, Faja of the Orinoco, Gaddafi, heavy oil, Latin America and Caribbean, Libya, Maracaibo, Oil prices, OPEC, PDVSA, PDVSA weakness, The USA, U.S. oil, Venezuela oil, Zulia
Tagged Beijing, Carabobo, Caracas, China, Heavy crude oil, Hugo Chávez, Nicolás Maduro, OPEC, PDVSA, Petróleos de Venezuela, president hugo chavez, Rafael Ramírez, South America, United States, Venezuela, Venezuelan
(Greetings! It’s good to be back blogging.) The common perception is that Chinese oil companies in Venezuela are winning big deals on very favorable terms. However, as I’ve stressed in previous posts, Beijing is actually very frustrated not to be getting the deals it expects for new Faja heavy oil fields, especially considering its big investments in the Bolivarian state. More evidence continues to emerge.
From 21-23 November the “10th Meeting of the China-Venezuela High-Level Committee” took place in Caracas at the Hotel Gran Meliá, with something like 400 businesses and state representatives coming from China. Continue reading
First of all, Greetings! I have been in Venezuela during July and half of August, talking to contacts and doing research on the present situation.
I was fortunate to have had the benefit of hundreds of hours of heart-to-heart discussions with Venezuelans from both the pro- and anti-chavista camps, both in and out of government, and some in neither camp. I also met with several foreign reporters, business people and diplomats. There are really not many other people from the global north in Venezuela now (I did find one grad student, from Finland). Continue reading
Posted in China, Energy and Environment, The USA, Venezuela update
Tagged Carabobo, China, Eni, Hugo Chávez, Maracaibo, Monagas, Petróleos de Venezuela, United States, Venezuela
The Global Barrel 