LV426 (03-21-2019)
VZ has refined Iranian oil for a couple of decades so THAT put them in the crosshairs.
Currently VZ's production is falling below 1 million bpd..
Yergin said Venezuela's oil operations had been deteriorating so much under Maduro that they had already become much less important to world supply, even though Venezuela has the world's largest oil reserves. "The Maduro regime has been committing oil suicide," said Yergin.
Venezuela, Iran may be crushed by sanctions, but oil market has not been
https://www.cnbc.com/2019/03/11/vene...t-has-not.html
I like Yergin a lot.. Take what he says to the bank...
Just not too happy that Trump is punishing VZ.
He who is the author of a war lets loose the whole contagion of hell and opens a vein that bleeds a nation to death. Thomas Paine
LV426 (03-21-2019)
Callinectes (03-21-2019), Earl (03-21-2019)
Truth is oil companies have bought up millions of leases, from the Gulf of Mexico, all over the west and Alaska. They do not open many of them. It increases their net worth and financial power. But they are not going to glut the market and cut profits. They just want more control over the market and taking leases off the market stops competitors from using them.
https://www.americanprogress.org/iss...-federal-land/
Last edited by Nordberg; 03-21-2019 at 12:28 PM.
They are doing an end run around Trump...…...
Reliance sends fuel from India, Europe to Venezuela to sidestep U.S. sanctions
Nidhi Verma, Marianna Parraga
4 Min Read
NEW DELHI/MEXICO CITY (Reuters) - India’s Reliance Industries is selling fuels to Venezuela from India and Europe to sidestep sanctions that bar U.S.-based companies from dealing with state-run PDVSA, according to trading sources and Refinitiv Eikon data.
Reliance had been supplying alkylate, diluent naphtha and other fuel to Venezuela through its U.S.-based subsidiary before Washington in late January imposed sanctions aimed at curbing the OPEC member’s oil exports and ousting Socialist President Nicolas Maduro.
At least three vessels chartered by the Indian conglomerate supplied refined products to Venezuela in recent weeks, and another vessel carrying gasoil is expected to set sail to the South American nation as well, according to the sources and data.
continued
https://www.reuters.com/article/us-v...e=businessNews
He who is the author of a war lets loose the whole contagion of hell and opens a vein that bleeds a nation to death. Thomas Paine
Citgo Execs in Jail in VZ
(Reuters) - U.S. Republican Senators Ted Cruz and John Cornyn on Thursday pressed Venezuelan President Nicolas Maduro to release six executives from Houston-based oil company Citgo Petroleum that have been in jail in the country since 2017.
The former top employees of Venezuelan PDVSA’s refining subsidiary, most of whom are U.S. citizens, were arrested in late 2017 and accused of embezzlement and money laundering linked to talks to refinance Citgo’s debt.
Family members of Jose Luis Zambrano, Alirio Zambrano, Jorge Toledo, Tomeu Vadell, Gustavo Cardenas and Jose Pereira have asked the U.S. government to intervene, citing health concerns for the men.
continued
https://www.reuters.com/article/us-v...-idUSKCN1R229W
He who is the author of a war lets loose the whole contagion of hell and opens a vein that bleeds a nation to death. Thomas Paine
Of course, that simply demonstrates the strong dependence on wishful thinking that the right depends on. Our own history, as in the 19th century, as well as world history, demonstrates that unrestrained capitalism produces massive poverty and despair, it's only when tempered with bits of socialism that we see widespread benefit. The right seeks to turn the U.S. into a banana republic, with a few very rich people running things and the rest living in poverty.
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RINO is the term for that rare Republican who puts country above party.
Right wing = lie, lie, and lie some more.
"When I am president I'm going to be working for you. I'm not going to have time to play golf" Donald J. Trump, world class snake oil salesman and compulsive golfer August 2016
The definition of "racist" as "anyone who is white" is itself racist.
Originally Posted by Colin Powell
RINO is the term for that rare Republican who puts country above party.
Right wing = lie, lie, and lie some more.
"When I am president I'm going to be working for you. I'm not going to have time to play golf" Donald J. Trump, world class snake oil salesman and compulsive golfer August 2016
The definition of "racist" as "anyone who is white" is itself racist.
Originally Posted by Colin Powell
Earl (03-21-2019)
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