I was going to ask who would buy those rights from a nation that has a history of welching on deals ... But then I remembered that blue water navy that China is building.
How do you spell “Guido” in Chinese?
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...
You don’t fail to fulfil an obligation with the Chinese.