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Started By
Message
China loans Venezuela 5 billion more
Posted on 7/5/18 at 6:11 am
Posted on 7/5/18 at 6:11 am
Oilprice.com
1. Will this stablize the declining oil output of Venezuela for a while?
2. China basically owns Venezuela?
1. Will this stablize the declining oil output of Venezuela for a while?
2. China basically owns Venezuela?
7
Posted on 7/5/18 at 6:12 am to Stingray
this is like loaning a deadbeat dumbass money that will just get wasted. 
Posted on 7/5/18 at 6:29 am to Nado Jenkins83
China is basically buying their oil rights.
Posted on 7/5/18 at 6:32 am to stat19
quote:
China is basically buying their oil rights.
Which, in Venezuela, is basically like owning the entire country...
Posted on 7/5/18 at 6:33 am to Stingray
Except China can't refine their crude. Venezuela's crude is a very unique and heavy crude.
Posted on 7/5/18 at 6:54 am to Nado Jenkins83
quote:
this is like loaning a deadbeat dumbass money that will just get wasted.
Not a great analogy considering they get oil in return. Not saying this latest infusion will right the production problems but this isn’t exactly altruism on China’s part.
Posted on 7/5/18 at 7:01 am to Nado Jenkins83
quote:
this is like loaning a deadbeat dumbass money that will just get wasted.
Chinese version of Wimpy and the Tuesday cheeseburger.
Posted on 7/5/18 at 7:06 am to Stingray
That’s not a loan
It’s a gift that gives China right of first refusal when anyone else wants to purchase Venezuela and it’s massive oil fields
Good business
It’s a gift that gives China right of first refusal when anyone else wants to purchase Venezuela and it’s massive oil fields
Good business
Posted on 7/5/18 at 7:21 am to bamarep
quote:
Except China can't refine their crude. Venezuela's crude is a very unique and heavy crude.
Correct you are rep. And their refinery in Curacao was siezed in a court order this year. They are reliant on refineries in the US now. But they have to mix with sweet crude anyway. US could cut them off tomorrow, but it will just make the people suffer more.
The only export Venezuela has is oil, their production is tanking because they have lost most skilled labor, and they have invested nothing in infrastructure so its falling apart. On top of that, the gas they sell locally is the cheapest in the world, less than a nickel a liter, and they have already promised oil to Russia and China for loans. Not a lot left over to sell, and that is at a discount.
We have a shatload of them in Trinidad now, its only seven miles from us. They are everywhere, crime has soared, huge influx of guns, and hookers everywhere.
He just gave promotions to 16,900 people in the military. You cant eat a promotion. This wont last much longer.
It wont be fixed for decades. Maduro will be gone in a year, but the entire middle class has migrated, only left with very rich and poor, tough to rebuild a country with that.
Posted on 7/5/18 at 11:10 am to bamarep
quote:
Except China can't refine their crude. Venezuela's crude is a very unique and heavy crude.
Exactly.
Many of us know that not all petroleum is the same, at all, in any flowability, content, or ease of extraction.
And with the shat-bit crazy govt that Venezuela has had, I wonder if they can refine their own crude any more, or even pump/extract it.
Posted on 7/5/18 at 11:17 am to real turf fan
It would be funny as hell to see china invade Venezuela like we did Iraq.
Posted on 7/5/18 at 11:20 am to Stingray
Gifts like this are one of the few ways Maduro can get his hands on cash.
The people are turning to the barter system for trade. You can't tax barter.
Fish for flour- Venezuelans turn to barter system
The people are turning to the barter system for trade. You can't tax barter.
Fish for flour- Venezuelans turn to barter system
Posted on 7/5/18 at 11:29 am to Stingray
I'm guessing the 5 billion isn't in Venezuelan dollars, as that would likely only buy you a cup of coffee.
Posted on 7/5/18 at 11:37 am to Stingray
I smell Sinopec..... Chinese expansions needs to be thwarted in our hemisphere they already took Africa.
Posted on 7/5/18 at 11:37 am to Stingray
Monroe Doctrine, bitch
Posted on 7/5/18 at 11:45 am to bamarep
quote:
Except China can't refine their crude. Venezuela's crude is a very unique and heavy crude.
Lol, they have been doing so for a while now, perhaps you should tell the Chinese, they have no clue they can't do that.
The Indians refine quite a bit of it as well.
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