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The seizure took place Thursday after a judge in the state of Anzoategui, accompanied by four members of the local police and national guard, entered a Superior depot and ordered it to hand over control of two specialized rigs to an affiliate of PDVSA, the state-owned oil producer.
Oil companies are weary of working with PDVSA, which has accumulated huge debts to service contractors on whom it depends to develop the world's largest proven oil reserves.
I wonder if the company has insurance to cover loss of equipment and loss of business ?
Maybe they had some "problems".
This could be an insurance scam.
PDVSA justified the equipment's expropriation, calling it essential to the South American nation's development and welfare, according to a court order obtained by The Associated Press. Company workers were instructed to load the rigs, known as snubbing units and used to repair damaged casing, onto trucks to be deployed at "critical wells" elsewhere, according to the document.
You sure this is not old news? Jesus Centeno has not worked in Venezuela in a long time. He is working for a Canadian outfit right now not US.
Nexen has no operations in Venezuela?
Chavez did do this a long time ago.edit on 2-11-2013 by JBA2848 because: (no reason given)
reply to post by 727Sky
Stop paying your rent/mortgage and let's see what happens. Are they going to forget...I think not.
Instead of pillaging the natural resources of another sovereign country, we should instead focus on our energy harvesting technologies here in the U.S. We have so much Solar Energy potential here in the U.S., that even power companies are lobbying to reduce or even get rid of Solar Energy credits if you produce more than what you use up.
This world is just going to hell in a handbasket...
Kratos....just send me on a one-way ticket to Mars.