On Face the Nation, Marco Rubio stated that Ryan Lance and Wirth from Chevron will visit Venezuela this week to determine what’s needed to increase production
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Doing a high level survey is the first thing to do when considering developments in another country. Then you will send in the HR folks and highly technical operations people to make an assessment of the oil field facilities and local infrastructure to support bringing in expats. Then from there you have to send in teams of subsurface, facilities, operations, legal, marketing, and environmental people. Only at that point can you make a decision whether to re-enter or not and for what price. Then the fun starts with negotiation. The American public is being misled at how lengthy and involved this process is.
Hey ehh. What goes around comes around. Remember when Pierre partially nationalized the Canadian oil patch? That move set into motion the sale of Conoco’s subsidiary Hudson Bay Oil & Gas. The sale generated cash making Conoco a takeover target. Game over. These black swan events change everything.
The $12 billion write down for the nationalization of Venezuela pales in comparison to the $32 billion write down for the Burlington acquisition.
According to the NY Times, Trump crowed about COP being sble to write off Venezuelan assets. RL responded tersely, “it already been written off.”
So is COP still in favor of DT or does the company view DT differently given the current events.
Can we put the Scottish guy in charge who messed up Guyana
RL is chasing billion of dollars that Venezuela owed to COP several years ago from the international arbitration.
So COP has just laid off thousands of employees and contractors in North America siting the need to reduce cost. Now COP (literally named by Trump) are in talks and planning, to rebuild Venezuela’s oil? What a slap in the face to Canada’s oil patch!
Stop speaking like a government/corporate lackey.
No that is not what Rubio stated at all. ConocoPhillips spokesperson Dennis Nuss wrote, "ConocoPhillips is monitoring developments in Venezuela and their potential implications for global energy supply and stability. It would be premature to speculate on any future business activities or investments."
Stop spreading made up information