Donate Bitcoin

Donate Paypal


PeakOil is You

PeakOil is You

THE Citgo Oil Company Thread (merged)

General discussions of the systemic, societal and civilisational effects of depletion.

Moderator: Pops

Re: THE Citgo Oil Company Thread (merged)

Unread postby GHung » Fri 21 Apr 2017, 11:45:13

ROCKMAN wrote:Not like Venezuela didn't have enough problems already: some ports won't allow entry to tankers carrying Venezuelan oil:

"In the scorching heat of the Caribbean Sea, workers in scuba suits scrub crude oil by hand from the hull of the Caspian Galaxy, a tanker so filthy it can't set sail in international waters. The vessel is among many that are constantly contaminated at two major export terminals where they load crude from Venezuela's state-run oil company, PDVSA. The water here has an oily sheen from leaks in the rusty pipelines under the surface. That means the tankers have to be cleaned before traveling to many foreign ports, which won't admit crude-stained ships for fear of environmental damage to their harbors, port facilities or other vessels.

The tankers sidelined for cleaning provide a vivid example of the firm's downward spiral: Lacking the cash to properly maintain ships, refineries and production operations - or to pay business partners on time - PDVSA can't boost exports, which is its only option for raising more cash.

The lagging exports crimp the flow of cash back to the country's crippled socialist economy, as citizens struggle daily amid soaring inflation and shortages of food and medicine. Because Venezuela relies on oil for more than 90 percent of export revenues, the problems of its state-run oil company pose a national crisis. Venezuela's crude exports declined 8 percent to 1.69 million bopd in the first quarter versus the same period in 2016.


Seems they have enough money to suck up to Trump:

Venezuela faces shortages of food, water, medicine, electricity and money.

But its state-run oil company -- through a subsidiary -- donated $500,000 to President Trump's inauguration committee on December 22, 2016.

That equals what Pepsi (PEP), Verizon (VZ, Tech30) and Walmart (WMT) donated combined, according to Federal Election Commission records released Wednesday as deadly protests raged across Venezuela. The donation to Trump's inauguration committee was made by Citgo Petroleum, a subsidiary of Venezuela's state-run oil company, PDVSA. .....

http://money.cnn.com/2017/04/20/news/ec ... ended_pool
Blessed are the Meek, for they shall inherit nothing but their Souls. - Anonymous Ghung Person
User avatar
GHung
Light Sweet Crude
Light Sweet Crude
 
Posts: 1371
Joined: Tue 08 Sep 2009, 15:06:11
Location: Moksha, Nearvana

Re: THE Citgo Oil Company Thread (merged)

Unread postby ROCKMAN » Fri 21 Apr 2017, 22:42:09

Ghung - I know people that know people that know some of TPTB in Venezuela. There still are huge sums of money under their control. The question is where those monies will be directed. Obviously not much of it is trickling down to the man on the street.
User avatar
ROCKMAN
Expert
Expert
 
Posts: 9681
Joined: Tue 27 May 2008, 02:00:00
Location: TEXAS

Re: THE Citgo Oil Company Thread (merged)

Unread postby Zarquon » Sat 22 Apr 2017, 14:25:01

Tanada wrote:I ask because surely by the time a tanker travels all the way to China across the Pacific any crude surface residue should have been washed away by the thousands of miles of sea water bouncing off the hull at 15 knots.


My guess is that if port authorities spot a tanker that still has crude sticking to the hull, they don't know if it's just been anchored in a filthy port (i.e. Venezuela) or if it the hull itself is leaking like a sieve.
Zarquon
Tar Sands
Tar Sands
 
Posts: 184
Joined: Fri 06 May 2016, 19:53:46

Previous

Return to Peak Oil Discussion

Who is online

Users browsing this forum: No registered users and 8 guests