Discussion in 'The War Room' started by Arkain2K, Jan 24, 2018.
- Thank you for your service!
You know that socialism is shitty when you award your soldiers with toilet paper.
Venezuela hands China more oil presence, but no mention of new funds
Well well well, what do we have here...
Venezuela is handing over oil fields to private companies for the first time since the 1990s
Irina Slav, Sep. 15, 2018
Caracas is preparing the return of oil contracts with private companies that were last used in the 1990s before the Chavez era that made PDVSA the one and only operator of oil fields. Reuters reported this week it had seen a draft of the contract stipulating the state oil company will give control over several fields to a set of local companies for a period of six years. The companies will have to commit to boosting production, funding field maintenance, and purchasing whatever equipment they need to do all this. In exchange, PDVSA will pay them a fee for the oil they extract.
It smacks of privatization, albeit temporary, but how successful it would be remains an open question. Sources close to the developments told Reuters the draft document was the foundation of a production-boost plan announced by President Nicolas Maduro at the end of August. The plan, PDVSA's head, Manuel Quevedo, said later, would involve investments of US$430 million to increase oil production by 641,000 bpd. The company picked 14 companies to take part, but the names of only seven have been made public.
Most, Reuters reports, are oilfield service providers, which means they don't necessarily have oil production experience. Five of them are Venezuelan, one is based in Panama, and one is Chinese. According to the draft contract, in addition to the fees they receive for the oil they produce, the companies will also be reimbursed for the investments they make in the fields. Can the plan work?
There are a lot of "ifs" here. Anything is theoretically possible, even a reversal of Venezuela's sliding oil production, especially if it is urgently necessary. This is precisely the case: with booming hyperinflation, hundreds of millions in delayed payments to creditors by PDVSA, and, most recently, a decision by Caracas to cut fuel subsidies, Venezuela is teetering on the brink of total collapse. Oil is Venezuela's biggest asset. It makes sense it would try to use it better. The problem seems to be the choice of field operators. And the other problem is that Caracas does not really have a choice.
Foreign companies were driven out of the country by the Chavez government. Now, even if they would like to come back, they couldn't because of the severe U.S. sanctions against Caracas. Even if there were no sanctions, a return of Big Oil to Venezuela would be questionable: the Chavez nationalization must have left a bad taste. So, Venezuela really does not have any other options, but to entrust its planned production boost to local companies. And it really needs this boost.
According to OPEC's secondary sources, Venezuela's oil production in July dropped to below the 1.3-million-bpd mark—at 1.278 million bpd, plunging 47,700 bpd from June. This compares with an average of 2.154 million bpd in 2016, and an average of 1.911 million bpd in 2017. Some analysts expect production to fall to below 1 million bpd by the end of this year. The production problem, in other words, is getting more urgent by the day.
Yet, another problem could outshine it very soon. Media covering the proposed fuel subsidy curb recall the last time a Venezuelan government tried to raise prices at the pump. It was in 1989 and it led to riots and an attempted coup. Cutting fuel subsidies, in other words, is a desperate move that might not end well for the government in Caracas, even if it manages to boost oil production with the help of the seven private companies.
Desperate for cash, Venezuela threatens to sue its neighbors
By Jim Wyss | September 14, 2018
A crowd of Venezuelans waited to cross the Simon Bolivar Bridge into Colombia
I dont know what people in Venezuela are waiting for
time to revolt is now (and has been for some time) - there's over 30mil people in that country, but all of them are under the mercy of an idiot dictator who is content with driving his country into the ground?
south america is fucked - only few countries in there that arent overrun with corruption/incompetence - and now those countries will get fucked as well due to the unchecked migrations
all the more reason to admire what East/SE Asian countries accomplished - rising from poverty into becoming world players (hong kong, taiwan, singapore, japan, s. korea, china)
South America should just invade Venezuela and carved it up among themselves.
I’d say the proximity to the US would be a contributing factor. The US has been fucking around in SA for quite some time.
As Venezuelans Starve, Maduro Feasts on Steak at Salt Bae Restaurant in Turkey
By Patricia Laya | September 17, 2018
On his way back home from a trip to Asia, Venezuela’s President Nicolas Maduro stopped off in Turkey to dine at one of butcher sensation Nusret Gökçe’s Nusr-Et restaurants where he sampled steaks and smoked cigars from a personalized box.
Maduro visited Nusr-Et, known for its $100 rib-eye, after making an official trip to China in hopes of securing financing for cash-strapped Venezuela. In videos posted by Nusret to Twitter and Instagram, Maduro is seen eating steak next to his wife, Cilia Flores, while also holding a cigar and trying on a t-shirt depicting Nusret, also known as Salt Bae and famous for how he prepares and seasons steaks.
Venezuela is in the throes of a deep humanitarian and economic crisis, following years of misrule that have led to hyperinflation, power blackouts, water outages, as well as dire shortages of food and medicine. A survey by three leading Venezuelan universities estimated 87 percent of households were living in poverty in 2017 while 64 percent of Venezuelans lost weight last year, 11.4 kilograms on average.
Nusret, who has close to 16 million Instagram followers, deleted several videos showing Maduro’s visit to the restaurant from Instagram shortly after posting them.
People of Venezuela dont revolt because
a) They would rather flee.
b) Communists are pretty good at squashing revolts.
Maduro needs to be Gaddafied at this point, he is reaching Un's level of cynicism.
That being said, is China still throwing money on that bottomless pit?
Hahaha look at that....it’s incredible no? His people starving and he’s there enjoying a fine meal with his wife. The comments to that video on YouTube are both hilarious and sad
This. It’s why I’ve stayed away from the revolt topic. My family did the same.....why shed blood if nothing will come of it. It’s better to fuck off into greener pastures. In Cuba for example we have to play the long game. The youth have internet now and realize that life is so much bigger outside of their little island. Change can come but it won’t be with an AK and a machete in my opinion
That little Saltbae dude is disgusting. Sleazy little fucker would never spray salt on my plate.
Maduro probably owns shares to his restaurant, dictators have to laundry their money somehow.
Venezuela doubles down on Chinese money to reverse crisis
By The Associated Press | Sep 18, 2018
Maduro,Un and Ping should be hanged!
These could be the top 3, Worst leaders of this decade.
China is going in hard on the soft colonialism wherever they can
"Let them eat cake." -Celia Flores
China navy ship visits Venezuela for the first time as Nicolás Maduro cozies up to Beijing
September 22, 2018
Venezuela's Defense Minister Vladimir Padrino Lopez attends the arrival ceremony of the China's People's Liberation Army (PLA) Navy hospital ship Peace Ark at the port in La Guaira, Venezuela on September 22, 2018
Separate names with a comma.