Free Ethical Oil! – small dead animals

Oh, darn.

In 2010, CNPC signed a deal to help Venezuela develop a major Orinoco oil field known as Junin 4, which includes the construction of a facility to convert heavy oil to a lighter crude that could be shipped to a refinery in Guangdong, China.
“Although the contract was signed in December 2010, not one barrel of oil has yet been produced, much less upgraded,” said Gustavo Coronel, a former PDVSA board member.
“So far, nothing much seems to be happening, except for the arrival of a large group of Chinese staff to the CNPC’s Caracas office,” he added, referring to the Venezuelan capital, Caracas.
“Apart from money, there seems to be little that China can offer Venezuela in the oil industry,” he said, adding that a “culture gap will make working with China very difficult for Venezuelan oil people, who were mostly trained in the U.S.”

h/t Adrian

13 Replies to “Free Ethical Oil!”

Does the Venezuela tar sands make Tides’ heads explode, I wonder? Or is it only Canada’s oil sands that do that?

Good. The Chinese seem to think they can just pitch up anywhere and plunder away to their heart’s content. Glad this deal isn’t working out so well for them – although it is not a surprise given the leadership in Venezuela.

The world’s oilfields do not move without western technology and people.
I have lived and worked the oilfields in both Venezuela and China; there is good reason why we are there. Over 1.3 billion people in China but they pay us a peasant families yearly income in a day to fly over to their countries and make it work properly.
This is not a coincidence.

the leftards were so happy when Talisman left the Sudan , havent heard a word about it since the chinese arrived with their own workers and shutdown all the charitible projects Talisman had on the go.

Hahaha! GOOD! Let the Chicoms and their statist allies deal with their choices. So sick of hearing how China is going to lead us all out of this global financial mess because of their high population and ‘high economic growth’. I actually heard one report about how the resources were imparitive to China as they were still building cities for millions of people. Have they not see the urban ghost towns they are building? The vacancy rate increasing as their citizens abandon the asphalt and concrete and head back to the hillsides? Or the change in their focus on exporting goods as the warehouses fill to capacity with merchandise that the rest of the world just isn’t demanding anymore? Fantasies realised often become a nightmare of reality.

Cozying up to China is like sleeping with the enemy, IMO.

PDVSA (the Venezuelan national oil company) is laughably inept. Despite every advantage in the world, it just barely ekes out a profit. And they have failed to replace depleting fields with newly developed ones, which does not paint a rosy future.
Venezuela would have been smarter to invite in all of the international oil companies and then charge a hefty royalty.
But you know those darn socialists…

Ditto for Chevez and his thugs – could not happen to a more deserving group.

The Chicoms are just waiting for Chevez to die. They think long term. Besides they know a nut when they see one, being cozy with North Korea.
Until the Nation is in utter chaos so they can steal a deal.

I wonder if the Chinese might be considering a heretofore unanticipated application for that aircraft carrier they’re developing.

“adding that a “culture gap will make working with China very difficult for Venezuelan oil people, who were mostly trained in the U.S.””
I love that line. ROTFLMAO. The only “cultural” difference is the Chinese consider their form of Communism superior to everybody elses.
So Venezuela has gas prices of only 10 cents a gallon. Big effing deal,when the only people who own vehicles are the commies!