Green Energy
Chavez to Nationalize U.S. Firm’s Oil Rigs
From Weasel Zippers:
Venezuela to nationalize U.S. firm’s oil rigs
Venezuela will nationalize a fleet of oil rigs belonging to U.S. company Helmerich and Payne, the latest takeover in a push to socialism as President Hugo Chavez struggles with lower oil output and a recession.
A former soldier inspired by Cuba’s Fidel Castro, Chavez has made energy nationalization the linchpin in his ‘revolution’. He has also taken over assets in telecommunications, power, steel and banking.
The 11 drilling rigs have been idled for months following a dispute over pending payments by the OPEC member’s state oil company PDVSA. Oil Minister Rafael Ramirez said on Wednesday the rigs, the Oklahoma-based company’s entire Venezuelan fleet, were being nationalized to bring them back into production.
Ramirez said companies that refused to put their rigs into production were part of a plan to weaken Chavez’s government,
“There is a group of drill owners that has refused to discuss tariffs and services with PDVSA and have preferred to keep this equipment stored for a year,” Ramirez told reporters in the oil producing state of Zulia. “That is the specific case with U.S. multinational Helmerich and Payne."
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Venezuela's Chavez Orders State Takeover Of U.S. Glass-Maker, Owens-Illinois In a televised speech on October 25, Chavez criticized the company's practices, saying it had been taking money from Venezuelans, destroying the environment and exploiting...
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Speaking Of Drilling, We Don't Even Have The Exploratory Drilling Ships..call Samsung?
NYT - As President Bush calls for repealing a ban on drilling off most of the coast of the United States, a shortage of ships used for deep-water offshore drilling promises to impede any rapid turnaround in oil exploration and supply. Demand...
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Time To Dance. Chavez Threatens To Cut Off Oil To America If He Loses In Court
When the music plays there's no point in delay. CARACAS, Venezuela (AP) - President Hugo Chavez on Sunday threatened to cut off oil sales to the United States if Exxon Mobil Corp. wins court judgments to seize his government's assets....
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Venezuelan Oil Refinery Explodes In Cuba
Things that make you go, "Hmm ...": Hot on the heels of the surprise power-packed U.S. consumer boycott of Venezuelan oil, a huge refinery explosion of Venezuelan oil occurred this morning in Havana, Cuba, where considerable Venezuelan oil is being...
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7-11 Pulls Plug On Citgo
For those who still aren't aware of this story, Citgo Oil Company is owned by the state of Venezuela. You know, the country that Hugo Chavez rules over. From Michelle Malkin: 7-Eleven spokesman Margaret Chabris said that, "Regardless of politics,...
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