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THE Citgo Oil Company Thread (merged)

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

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
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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.
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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.
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Re: THE Citgo Oil Company Thread (merged)

Unread postby ROCKMAN » Thu 25 May 2017, 13:33:10

Wow! Here's a potential movie of the week involving Syria, illegal oil, Russians, the Chavez brothers, one of the largest oil refineries in the world, the Trump campaign and Citgo stations in the US. Here are bits and pieces from:

http://www.rigzone.com/news/oil_gas/a/1 ... _US_Market

Venezuela's Secret Plot to Sell Banned Syrian Oil in U.S. Market

"Syria and Venezuela plotted in recent years to evade international sanctions on Syria through a secret deal to transport its crude oil through Russia contacts to the Caribbean. The previously undisclosed plan aimed to sell Syrian oil at a big discount to Venezuela through a Russian shell company, which would send it to Aruba for refining and distribution to gas stations in the U.S. and elsewhere, according to dozens of emails, documents and interviews."

"For Venezuela, the plan forms part of an international agenda initiated by the late socialist President Hugo Chavez...The Syrian initiative underscores Venezuela’s international ambitions, indicating that its current crisis could have repercussions far beyond its shores."

"A key player was Wilmer Ruperti, a Venezuelan oil trader who grew enormously wealthy through his closeness to the country’s leadership...Syrian officials approached him in early 2012 during a party at the Syrian Club of Caracas...He had his eye on a facility that had just been shut down by its owners, San Antonio-based Valero Energy Corp...Ruperti offered $15 million to an Aruba real estate agent, for help in buying the refinery, one of the world’s largest, although in the end Venezuela’s state oil company leased it...Ruperti met with Aruban Prime Minister Mike Eman and another top official, Mike de Meza. Both declined repeated requests for interviews."

"He proposed heading a business group called “Sirius Venezuelan” and recommended a five-year contract to supply 50,000 to 200,000 barrels a day of Syrian crude, as well as storage capacity for another 6 million Syrian barrels. Stamped beneath Ruperti’s signature, in bold italics: “Socialist fatherland, we will win and we will live.”

Trump Conflict? - Citgo attracted attention in Washington earlier this year by donating $500,000 to the inauguration fund of President Donald Trump, a sum that exceeded gifts by Shell, Walmart and most other U.S. companies. The donation raises concerns about how a foreign government might seek to buy influence inside the Oval Office, according to Richard Painter, who served as White House ethics counsel under President George W. Bush and has been critical of the Trump administration. Citgo’s inauguration gift surfaced after a bipartisan group of U.S. senators said that “critical energy infrastructure” in the U.S. owned by Citgo could come into the hands of Russian oil giant Rosneft PJSC."

And more juicy pieces in the article.
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