Posted on 04/17/2007 1:20:52 PM PDT by Sub-Driver
Venezuela says may not compensate in oil takeovers Tue Apr 17, 2007 3:57PM EDT
By Enrique Andres Pretel
PORLAMAR, Venezuela (Reuters) - Venezuela threatened on Tuesday not to compensate some foreign oil companies in its planned takeover of their multibillion dollar projects in the OPEC nation's vast Orinoco reserve.
The warning from the oil minister intensified the pressure the leftist government of President Hugo Chavez has exerted on some of the world's largest companies as they negotiate before a June deadline over the nationalizations.
"We are all talking. There are permanent conversations with all the partners," the minister, Rafael Ramirez, told reporters on the sidelines of an energy summit on the Venezuelan resort island of Margarita.
"We are going to see if there's compensation because in some cases there may not be compensation," he added.
Companies whose investments are targeted for takeover in the reserve of tarry crude are Chevron Corp., Exxon Mobil, Conoco Phillips, Norway's Statoil, Britain's BP and France's Total.
Tuesday's threat was the first time Venezuela explicitly said companies may not be compensated for losing investments in the four heavy crude upgrader projects that are valued at over $30 billion and can produce 600,000 barrels per day.
It reflected the tough negotiating tactics ordered by a president who often
(Excerpt) Read more at reuters.com ...
Blow it up and write it off.
Where’s Ellis Wyatt when you need him?
“Separately, Ramirez said Venezuela was studying selling its stakes in refinery investments at Chalmette in Louisiana and Sweeny in Texas that also involve Exxon and Conoco Phillips.”
Well, we could just “nationalize” these holdings and turn them over to the U.S. firms that are being robbed by the communists.
Should have done it sooner since Hugo is sending in the military and refusing to allow any of the employees of foreign oil cos. to leave. They really should have known the outcome once Hugo got himself promoted to Dictator and done this months ago when they still could.
Need a little Howard Roark on aisle 1. What’s Chavez going to do, sue? With what money? Fix it himself? If he could do that he would have siezed the stuff already. Blow it up.
Chavez is a leftist. He follows the laws set down by leftists. Legislate, confiscate, and incarcerate.
He’s using the Hildabeast’s socialist “those rich bastards” economic model to take over the “means of production”....
“refusing to allow any of the employees of foreign oil cos. to leave”
Can you tell us where this is cited?
Who is John Galt?
Revive “Letters of Marque”.
Is this true?
No wonder he keeps raving about a US invasion.
A 'hostage' situation can lead to a rescue mission.
What is Chavez trying to do, give big-government types in the US more ideas for eminent domain reform?
What a surprise, Not!
Exactly what should be done. Citgo as well.
Don't forget "kill", any lefty worth his salt, Stalin, Mao, Mugabe, et al, oversees or causes the deaths of many of the people.
Right, and Citgo can’t take that kind of hit and stay in business.
They still need us a lot more then we need them, they’re just counting on our lack of backbone.
http://www.freerepublic.com/focus/f-news/1816644
There is another article which will no longer link from 4/10
http://www.freerepublic.com/focus/f-news/1815036
I don't believe he is holding any hostages, at least not yet, but he warned the foreign oil companies working the fields not to pull their workers or shut down the fields and to keep on business as usual until May 1, when the military would be taking over the fields.
Neither linked worked
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