Venezuela, in a Quiet Shift, Gives Foreign Partners More Control in Oil Ventures
http://www.nytimes.com/2014/10/10/world/venezuela-in-a-quiet-shift-gives-foreign-partners-more-control-in-oil-ventures.html
OCT. 9, 2014
...the company has been discreetly moving to give more control to foreign oil companies that participate with it in joint ventures, according to five people familiar with recent agreements it negotiated....
In the hopes of jump-starting stagnant production through increased investment, the company has signed or is negotiating financing agreements with numerous foreign oil companies operating here. These agreements give the companies greater say over how drilling operations are run and how they buy supplies and equipment, as well as greater control over spending and profits, according to those familiar with them, some of whom asked not to be identified to preserve relations with Pdvsa....
One of the first agreements was signed with the American company Chevron in May 2013. The deal included a $2 billion loan by Chevron to Pdvsa to cover the state oil company’s portion of investment in an oil field across Lake Maracaibo from Mene Grande.
But it also included provisions sought by Chevron to guarantee that the new loan, as well as millions of dollars in unpaid dividends from past operations, would be paid promptly from oil revenues...
“One of the first agreements was signed with the American company Chevron in May 2013. The deal included a $2 billion loan by Chevron to Pdvsa to cover the state oil company’s portion of investment in an oil field across Lake Maracaibo from Mene Grande.
But it also included provisions sought by Chevron to guarantee that the new loan, as well as millions of dollars in unpaid dividends from past operations, would be paid promptly from oil revenues...”
This almost sounds hopeful, but I pinch myself and remind myself that alas, Chevron is probably not really an “American” oil company. It may have some good Americans working for it, but I suspect its upper echelons are very much in alignment with the ptb. I DO hope I’m wrong.
Lucy van Pelt holds the football for Charlie Brown.