Title: Venezuela's government seizes U.S.-owned oil rigs !!

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.

www.cbsnews.com...

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.

So according to this article the service company has not been paid since December so instead of paying the bill they( Venezuela's government) came in and stole the equipment.. Venezuela used to be a wonderful place but by 2010 the airline crews laying over did not even leave the hotel because of the crime and kidnaping.

Not to long ago there would have been an international wire telling TPTB in Venezuela return our stuff or expect the Marines...your choice..

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.

Obviously a "terrorist state"
Bomb the # out of them....then theyll love us......

xuenchen
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.

www.cbsnews.com...

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.

Insurance is required as part of international agreements ... Also international agreements are made so this type of stuff does not happen. If a scam then it is well done.

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.

ca.linkedin.com...

Nexen has no operations in Venezuela?

www.nexeninc.com...

Chavez did do this a long time ago.

JBA2848
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.

ca.linkedin.com...

Nexen has no operations in Venezuela?

www.nexeninc.com...

Chavez did do this a long time ago.

edit on 2-11-2013 by JBA2848 because: (no reason given)

AP/ November 1, 2013, 9:46 PM was the date of the article

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.

Kratos40
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.

The oil service companies were hired by the state run oil monopoly to do a job which they did since December without pay. When they stopped working for free the government came in and confiscated the equipment.

So if you work for a company who does not pay you.... you go into the managers office to complain about the money owed... You are told for the good of the company they are taking the contents of your locker and even your car because they need it... Yep I am sure there are those who would have no problem with that program... For the good of the many/government/crooks/ who have the power... Nothing to see move along...

Venezuela lacked good faith in ConocoPhillips seizure - World Bank and RT article: However the ruling is from asset seizure in the 2009-2010 timeframe When President Hugo Chavez was on his nationalization binge... the latest article I have found was dated Wed Sep 4, 2013 2:42pm EDT but only talks about the court case ruling... So, as someone else said, this might be old news regardless of the CBS article in the original thread post ? I have a call into a friend who is international sales V.P for the worlds largest service company but he must be out and about for I could not reach him... When he calls I will hopefully get the full skinny on what went down or is now happening..