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Thread: Venezuela seizes oil rigs owned by US company

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    Venezuela seizes oil rigs owned by US company

    Venezuela seizes oil rigs owned by US company - Yahoo! News

    CARACAS, Venezuela Venezuela's government has seized control of 11 oil rigs owned by U.S. driller Helmerich & Payne, which shut them down because the state oil company was behind on payments.
    Oil Minister Rafael Ramirez announced that Venezuela would nationalize the Tulsa, Oklahoma-based company's rigs. He said in a statement Wednesday that Helmerich & Payne had rejected government demands to resume drilling operations for more than a year.
    Helmerich & Payne announced in January 2009 that it was stopping operations on two of its drilling rigs, because Venezuela's state-run oil company, PDVSA, owed the company close to $100 million. It said it would shut down the rest of its rigs by the end of July as contracts expired unless PDVSA began to make good on its debts.
    The company said Thursday that PDVSA's debt was $43 million as of June 14.
    So, instead of keeping to its agreements, Venezuela's government has decided to seize the rigs. Shame on you Chavez.

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    Re: Venezuela seizes oil rigs owned by US company

    What's he gonna do - seize the whole damn world!?

    He's trying to stir a STORM and distract from the fact that he horded food that rotted away and then seized food from grocery stores to make up for the loss.

    Oh - and of course because of Obama's moratorium. I'm sure that kick started the notion.

    So - when a US-based company's property is taken over by another country what's the next action to take? I bet you Obama aint gonna do a damn thing 'cause that's what he's good at.
    Last edited by Aunt Spiker; 06-24-10 at 10:21 PM.
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    Re: Venezuela seizes oil rigs owned by US company

    Quote Originally Posted by Aunt Spiker View Post
    What's he gonna do - seize the whole damn world!?

    He's trying to stir a STORM and distract from the fact that he horded food that rotted away and then seized food from grocery stores to make up for the loss.

    Oh - and of course because of Obama's moratorium. I'm sure that kick started the notion.

    So - when a US-based company's property is taken over by another country what's the next action to take? I bet you Obama aint gonna do a damn thing 'cause that's what he's good at.
    Now hold on there Spiker. You sound like you are advocating war. The US government does not back individual companies when they decide to operate in other parts of the world. The US ambassador and consulate are their only means of recourse. Hopefully they'll get their wells back by those means (negotiations).

    If China decided tomorrow to take over all of the US company's manufacturing facilities the US government would not declare war on China. It's about time this started happening. This type of thing could provide more jobs for Americans than you could possibly imagine.

    US companies working on foreign lands must provide their own security. They are on their own.
    Last edited by d0gbreath; 06-25-10 at 09:49 AM.
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    Re: Venezuela seizes oil rigs owned by US company

    Quote Originally Posted by Mickey Shane View Post
    Now hold on there Spiker. You sound like you are advocating war. The US government does not back individual companies when they decide to operate in other parts of the world. The US ambassador and consulate are their only means of recourse. Hopefully they'll get their wells back by those means (negotiations).

    If China decided tomorrow to take over all of the US company's manufacturing facilities the US government would not declare war on China. It's about time this started happening. This type of thing could provide more jobs for Americans than you could possibly imagine.

    US companies working on foreign lands must provide their own security. They are on their own.
    LOL - no, I'm not advocating war. . . definitely not - we have too much of that going on and I hope that this can be resolved without such extreme measures.
    I'm suggesting what you pointed out: government now must get involved. . . .at the discretion of the President.

    Personally, though, I think it was just inviting trouble to roost near Venezuela - Chavez isn't know for being level. We're now, likely, in Chavez's pocket - and according to Turkish from Snatch, in his pocket is exact where we DON'T want to be.
    Last edited by Aunt Spiker; 06-25-10 at 09:53 AM.
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    Re: Venezuela seizes oil rigs owned by US company

    Quote Originally Posted by megaprogman View Post
    Venezuela seizes oil rigs owned by US company - Yahoo! News



    So, instead of keeping to its agreements, Venezuela's government has decided to seize the rigs. Shame on you Chavez.
    This is par for the course for that increasingly kleptocratic regime. What is astounding is that even after a host of forced nationalizations over the past few years, foreign companies stubbornly insist on doing business there. Seemingly, they reason that only others will face expropriation of their assets and ignore what is a significant and growing risk, especially as Venezuela's economy languishes.

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    Re: Venezuela seizes oil rigs owned by US company

    The company should plug em and sink em.



    That's what they get though for going into deals with a despot.
    Let evil swiftly befall those who have wrongly condemned us

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    Re: Venezuela seizes oil rigs owned by US company

    bravo chavez!
    the oil company gambled and lost
    the country which owns the oil under those wells insisted that the wells operate
    the (former) owner balked because it was being late paid
    the country did what was in the country's best interest and seized control of the wells
    my guess is the former owner will be able to get them back as soon as the oil underneath is depleted
    we are negotiating about dividing a pizza and in the meantime israel is eating it
    once you're over the hill you begin to pick up speed

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    Re: Venezuela seizes oil rigs owned by US company

    Quote Originally Posted by justabubba View Post
    bravo chavez!
    the oil company gambled and lost
    the country which owns the oil under those wells insisted that the wells operate
    the (former) owner balked because it was being late paid
    the country did what was in the country's best interest and seized control of the wells
    my guess is the former owner will be able to get them back as soon as the oil underneath is depleted


    yes comrade VIVA despot chavez
    Let evil swiftly befall those who have wrongly condemned us

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    Re: Venezuela seizes oil rigs owned by US company

    Quote Originally Posted by Reverend_Hellh0und View Post
    yes comrade VIVA despot chavez
    good to see that you agree ... i must confess, that was not expected
    and i was beginning to think you would never wise up
    we are negotiating about dividing a pizza and in the meantime israel is eating it
    once you're over the hill you begin to pick up speed

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    Re: Venezuela seizes oil rigs owned by US company

    Quote Originally Posted by justabubba View Post
    good to see that you agree ... i must confess, that was not expected
    and i was beginning to think you would never wise up



    Right, you cheer your anti-American despot and his siezing of American assets because of your asinine hatred of oil companies.
    Let evil swiftly befall those who have wrongly condemned us

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