“You don’t think the ExxonMobil guy might be angling for an advantage of some kind?”
I don’t think so, but that’s only my opinion. It could take years for an Exxon to rehab VZs’ oil facilities. The Exxons of the world make long, long term investments, so that in itself is not the problem. I believe they are being completely forthright with their concerns. These mafia-like countries do not give up power or position easily, and in no way could someone say “VZ’s government has been deposed”. The infection could come back, violently, and in a hurry. No, there is susbstantial “infrastruture” of the old gov’t left in place, and these poverty-dominant So American countries have a well-established history of voting in anyone who promises strength and social giveaways.
Thanks.
We were amongst the first to go back in in 1994. We knew it was precarious and it was worse than we thought. Our only luck in the deal is that we were so far out on the edges we didn’t get much attention.
In a quarterly meeting I was asked why we could not get better pricing and more timely attention from service companies....I said: To get to our job you need to drive your trucks and crews past at least 20 bread and butter PDVSA jobs, load up on a barge at a dock nearly in Trinidad, be moved by barge nearly 60 miles, do the job and get back to your base at Maturin. Meanwhile you have turned down multiple jobs because your equipment is tied up. Typical suits, still didn’t get it.