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Jul 2, 2009 | Posted by: Hugo Chavez Frias

Venezuela sets minimum $500 mln premium for Carabobo

Full story: in.reuters.com

Venezuela will demand that oil companies pay an high premium of between $500 million and $1 billion to participate in the development of the Carabobo oil block in the OPEC nation's giant Orinoco heavy crude belt. "Ai uan tu bi iur fren"

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Tom in Lazybrook

Fort Worth, TX

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#1
Jul 3, 2009
 
Will anyone bid? Thought here that Chavez will pocket the money then sieze the assets of those who paid for it. My guess is that China may pay something, but I'd bet after their 4bln loan in January (secured by VZ oil) which has already been spent by VZ, that they may wonder about dumping more cash there. Maybe Russia might force Gazprom to invest there. At any rate, I doubt this will be an economic purchase, but rather a subsidy.
Jorge

Valencia, Venezuela

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#2
Jul 3, 2009
 
Im familiar with sell your sole practice.

All the exproriate company and forien company just take pieces of venezuela and then the country can berecovering real quick.
Tom in Lazybrook

Kingwood, TX

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#3
Jul 3, 2009
 
Jorge wrote:
Im familiar with sell your sole practice.
All the exproriate company and forien company just take pieces of venezuela and then the country can berecovering real quick.
Esto no es lo que estoy advocando. Pero el problema es que si Venezuela he robado todos los emprasas extranjeras que invertieron en VZ, quien va a invertir en este oferta?
Pablo-tecno

Caracas, Venezuela

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#4
Jul 4, 2009
 
My brother and me are selling and leaving. I won´t say what is our business, but can say we are happy to leave now and take a little, than to wait and lose it all. 3 years ago, our value was 4.2 millions the US dollars. Now we will leave with 1.5 to 1.9, and the buyer gets a great price, until they have to accept worthless bonds from the expropriated company. We lowered our prices from 2.28 millions to 1.77 if they paid us CASH before August 14.
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