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re: Ex-Chevron Chief Launches $2 Billion Push to Revive Venezuela's Oil Fields
Posted on 1/5/26 at 10:11 am to ragincajun03
Posted on 1/5/26 at 10:11 am to ragincajun03
Good news.
But, $2 billion isn't gonna do much.
Their infrastructure is gonna need a damn near total rebuild.
But, $2 billion isn't gonna do much.
Their infrastructure is gonna need a damn near total rebuild.
1
Posted on 1/5/26 at 10:50 am to Privateer 2007
I just hope some of the oil money trickles down to me.
Posted on 1/5/26 at 10:57 am to Free888
quote:
Moshiri was just on CNBC. He said the investment would be $5-6 Billion and wouldn’t take very long. He mentioned that investments outside of oil are another matter and can’t be ramped up as quickly.
The dude looking for investors and trying to raise billions of dollars said it would be a piece of cake? Sounds about right.
Posted on 1/5/26 at 11:05 am to ragincajun03
quote:
analysts caution that restoring Venezuela’s oil production to its glory days of the mid-1970s would take about a decade and $100 billion in investment.
17 trillion in oil. Sounds like a worthy investment of 100bn
Posted on 1/5/26 at 11:10 am to ragincajun03
quote:
“We’re going to have our very large U.S. oil companies.... go in, spend billions of dollars, fix the badly broken infrastructure, oil infrastructure, and start making money for the country,” President Trump said
Making money...FOR WHO??
quote:
Chevron’s former executive Moshiri said “We have been anticipating this breakthrough for a while."
There we have it, folks. BIG OIL reveals a plan had been in the works.
Sooooo....NOT "stopping drugs from being smuggled into the USA"?? NOPE. Good guy "altruism" to save the Venezuelan people? Afraid not my sweet summer child :-(
Posted on 1/5/26 at 11:13 am to Free888
quote:
Moshiri was just on CNBC. He said the investment would be $5-6 Billion and wouldn’t take very long
I listened to this interview. He was propping up the current VP as well saying she is likely one of the few people who can lead the country. Sounded like a salesmen to me working to get his $2 billion in investments.
Posted on 1/5/26 at 11:13 am to Free888
quote:
Moshiri was just on CNBC. He said the investment would be $5-6 Billion and wouldn’t take very long. He mentioned that investments outside of oil are another matter and can’t be ramped up as quickly.
In bullsh#t-speak, "Wouldn’t take very long" means "already HAD it. For MONTHS."
Posted on 1/5/26 at 11:26 am to deltaland
quote:
17 trillion in oil. Sounds like a worthy investment of 100bn
On face value, yes. Start looking into:
1 - Time value of money.
2 - ROR vs. investment of such in a different arena.
3 - Reserves doesn't always mean economically recoverable. Depends on the market price point. Some of those barrels wouldn't be worth recovering unless oil is $150/bbl.
4 - It will take decades to produce 300 billion barrels. What does the environment in Venezuela look like in two decades?
Posted on 1/5/26 at 11:27 am to EphesianArmor
quote:
BIG OIL reveals a plan had been in the works.
Did you think those who were previously invested in and operating in Venezuela before their shite was confiscated by the government didn't at least have some small team's eyes on a potential return if the political tide shifted?
Posted on 1/5/26 at 11:28 am to ragincajun03
I wonder if you see the revival of the old HOVENSA refinery on St. Croix?
Posted on 1/5/26 at 11:30 am to EphesianArmor
quote:
“We’re going to have our very large U.S. oil companies.... go in, spend billions of dollars, fix the badly broken infrastructure, oil infrastructure, and start making money for the country,” President Trump said
Making money...FOR WHO??
It would be amazing if they could set up something like Norway has done for it's people. But I think corruption is too much a way of life there.
Posted on 1/5/26 at 11:38 am to EphesianArmor
Moshiri hasn’t worked for Big Oil In several years
Posted on 1/5/26 at 11:41 am to ragincajun03
Add onto that is that they don’t actually have 300 billion bbls in reserves in the same way most of the world classifies reserves. The true reserves equivalent number is estimated to be closer to 20-80 million by independent reviewers. That 300 billion number was elevated during the Chavez/Maduro reign and is completely self reported to OPEC.
Posted on 1/5/26 at 11:50 am to lsugradman
quote:
The true reserves equivalent number is estimated to be closer to 20-80 million by independent reviewers. That 300 billion number was elevated during the Chavez/Maduro reign and is completely self reported to OPEC.
I didn't know that part. Of course, it's been speculated for the past two to three decades that OPEC has been cooking its books on recoverable reserves, and since Venezuela is a founding member of OPEC, well...
300 Billion to even 100 Million is a hell of a drop off, though!
Thank you for bringing that point up. Always appreciate comments that add valuable information to these threads. That's actually why I like to post stuff like this...to help me learn.
This post was edited on 1/5/26 at 11:51 am
Posted on 1/5/26 at 1:03 pm to deltaland
quote:
17 trillion in oil. Sounds like a worthy investment of 100bn
Maduro hasn't been replaced yet, it's a little early.
Posted on 1/5/26 at 1:18 pm to ragincajun03
All of the reserves numbers posted by OPEC countries are self-reported and dont require 3rd party verification.
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