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1
Posted on 7/13/26 at 5:20 pm to CitizenK
quote:
Russians and Chinese companies mismanagement the concessions they were given. Both are like pre WWII US oil companies and mismanage fields and reservoirs leaving more in the ground as unrecoverable.
That makes sense.
They got the low hanging fruit.
Posted on 7/13/26 at 5:21 pm to Night Vision
quote:zero clue. I donot know.
Where is it being refined?
Posted on 7/13/26 at 6:22 pm to dstone12
quote:
Correct?
They haven't been drilling new wells and old ones were in decline. I don't how large reserves are, but there is plenty enough for exports. They import a LOT of gasoline from the US over 1 million barrels per month.
Posted on 7/13/26 at 6:25 pm to CitizenK
quote:Do you spell ColOmbia correctly when dealing with the ColOmbians??
Equipment is already being ordered by Venezuelan companies. via Columbia. I am involved in some of it, nothing sold at this point.
PDVSA once had a lot of Italians involved in executive management positions before Chavez. Many of its engineers moved to Columbia 20 years ago.
Posted on 7/13/26 at 7:34 pm to trinidadtiger
Why would the population of Guyana keep their production down? Are they not able to export?
Posted on 7/13/26 at 8:58 pm to Timeoday
quote:
Why would the population of Guyana keep their production down? Are they not able to export?
100% export. Guyana has no refineries and because it goes from FPSO to ship it is far cheaper to refine in the USA and fuel shipped back. Guyana had several proposals to build a refinery but they want it built where there is a mangrove swamp known as Crab Island. Not really enough room for more than the 30,000 BPD refinery without much of a tank farm. There is a labor shortage already.
No one is keeping production down. You don't just pump like a mofo, that's pre WWII thinking and leaves a lot of oil in fractured reservoirs unrecoverable.
This post was edited on 7/13/26 at 9:02 pm
Posted on 7/13/26 at 9:14 pm to CitizenK
quote:
No one is keeping production down. You don't just pump like a mofo, that's pre WWII thinking and leaves a lot of oil in fractured reservoirs unrecoverable.
I understand but was thrown regarding the population comparison from the other comment by another. Thank you for the info.
Posted on 7/13/26 at 9:29 pm to dstone12
Think of it like investing in the market in 08/09. And then look at value 17/18 years later.
Posted on 7/13/26 at 9:41 pm to blueboy
quote:
Trump removed the guy blocking the sale to ANYONE, and his pal Singer immediately jumped in and bought it. No one else was in play so don't pretend like they were. Sorry if that upsets you, but it should. Your anger is warranted.
And then Singer repaid the favor by helping to fund the anti-Massie campaign. Done and done. But you're not going to complain about that. Instead, you're going to cry to me about pointing it out.
You really are that ignorant, I thought you were just trolling.
It was an open bid Citgo was already bankrupt, and its that simple.
Singer put a few million in a PAC to get rid of your hero Massie and you are bent out of shape about it. We get it, stop the whining and go hug your Massie photos
Posted on 7/13/26 at 10:36 pm to trinidadtiger
You're so full of shite. Again, the Maduro government was fighting a Delaware court's forced auction of Citgo, one initiated by Singer. Maduro's removal eliminated the legal opposition, allowing Singer's firm (acting through Amber Energy) to close the deal unopposed.
Clown.
quote:Just as irrelevant as the ins and out of the oil business. The point is he bought the company. He was the only one with a line on doing so and he did it immediately after Maduro was ousted.
Citgo was already bankrupt
quote:Yeah, no big whoop.
Singer put a few million in a PAC
Clown.
This post was edited on 7/13/26 at 10:37 pm
Posted on 7/13/26 at 10:41 pm to dstone12
Not all crude is equal. Crude from the Middle East is sweet, high quality. Venezuela crude is shite, heavy, hard to move hard to process. It sells at a steep discount
Posted on 7/13/26 at 10:45 pm to lsuoilengr
quote:
Venezuela crude is shite, heavy, hard to move hard to process. It sells at a steep discount
But we are set up for heavy sour…and its byproducts.
Posted on 7/13/26 at 10:53 pm to lsuoilengr
quote:
Not all crude is equal. Crude from the Middle East is sweet, high quality.
The majority of the crude coming from the Middle East is medium-sour because the sulfur content is higher than 0.5%. The Orinoco Belt crude is heavy-sour.
Posted on 7/13/26 at 10:54 pm to blueboy
quote:
Sorry if that upsets you
The only one upset about what you are saying is you.
Posted on 7/14/26 at 4:27 am to blueboy
quote:
Yeah, no big whoop.
See, we agree, now that wasnt so hard was it?
Posted on 7/14/26 at 7:56 am to blueboy
quote:
Maduro government was fighting a Delaware court's forced auction of Citgo
So your dumb Leftist arse trusts Maduro's government more than a US bankruptcy court? Par for the course...
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