Posted on 05/19/2018 8:55:53 AM PDT by Leaning Right
Venezuela’s state-operated oil company reportedly has bought nearly $440 million worth of foreign crude oil and shipped it directly to Cuba.
The Reuters news agency says this information comes from company documents. It said the Venezuelan business, PDVSA, purchased the oil on friendly credit terms and often at a loss.
The shipments are said to be the first documented example of Venezuela buying oil for its nearby allies. Usually, the country sells them oil from its own supply.
(Excerpt) Read more at learningenglish.voanews.com ...
Buying on credit at a loss... I’m sure they’ll make it up in volume. (Rolls eyes)
I think bolivars use a logarithmic exchange.
440 million dollars is about 10^440 bolivars (or maybe 10^446).
Venezuela needs help. Too bad they didn’t negotiate a better deal. Couldn’t Cuba provide some medications, and food supplies, something? Are the decision makers in Ven. trying to ‘impress’ those in Cuba? Those days are gone. Fend for yourself.
——purchased the oil on friendly credit terms -—
Hmmm...... Who would do that?
Iran? Russia?
Iran
Does Bernie Sanders, Sean Penn and Danny Glover get any Venezuelan oil at a discount? Morons All— and very quiet too these days on their past fawnings over the glorious Chavista-ruled dictatorship of despair. Isn’t Castroism grande?
Now spending other peoples’ money on credit. What could go wrong?
Luckily, the USA gets away with it for now....
Not sure Russian scum is involved but we know Iranian scum is all over Venezuela.
For what it’s worth...the VP is a mussie scum5
Maduro is going to go down in flames.
I don’t get all this about Venezuelans suffering.
I heard from several young voters that socialism leads to paradise. What happened?
Maybe we should stick with American capitalism under a representative republic under a Constitution. At least for a little while.
Isn;t their election on Sunday. It would be good if this news got out in VENEZUELA and people there knew this nonsense was going on and sway their voting choices.
They need Cuban Intelligence thugs to keep a lid on things. It comes at a price.
If Cuba, Venezuela, North Korea, Iran, and other dictatorships are engaged in mutual support. If one falls, it could have a domino effect. I'm sure Trump is studying this closely.
Who sold to them on credit? They will never get paid!
Yes, and some very specific goods and services, too.
They need Cuban Intelligence thugs to keep a lid on things.
Bingo. An ostensibly oil-exporting country is buying it on the market at a loss and not spending it on food and medicine because there's something much more important to them than the welfare of the people: power.
We're pretty much at the end stages of this cruel shell game. If Maduro hasn't oil, he hasn't anything, and the oil he does have is already sold - I note that Reuters is now admitting $60 billion owed, a figure that many in the media have been scoffing at up to now. It's likely at least $25 billion higher, but nobody really knows. What they do know is that the credit spigot has been closed.
Oh, and Maduro is up for re-election tomorrow. How nice.
They have to get it out of the ground before they can refine it. Arrest the folks with knowledge, and eventually there's no one around who can make things run right. Chevron pulled a bunch of execs after some were taken hostage. Halliburton has written off about a billion in assets; Schlumberger about that much; Repsol about the same; ENI about half that much. Total has evacuated most of its foreign employees and is trying to hold on with locals.
It just wasn’t implemented by the right people!
Toilet paper....
https://panampost.com/orlando-avendano/2017/07/20/cuba-has-occupying-army-in-venezuela/
Cuba has one of the least understood and most underestimated intelligence services in the world. The oil keeps Cuba afloat, the Cuban agents keep Maduro in place.
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