Word: repsol
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Dates: during 2000-2009
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...Processing over 50 million cubic feet of gas per day, the Repsol Rio Grande in Bolivia's eastern state of Santa Cruz sends gas to Bolivia and Brazil. Before the Spanish firm took over in 1997, the state-run facility barely functioned properly because of a lack of resources. Since then, says plant operations supervisor Joaquim Mendez, "things run efficiently - virtually accident free, productive and on schedule...
...behind closed doors, say analysts, Chavez has to help devise a way for Bolivia to realize the steeply increased share of gas and oil revenues it wants, while making sure foreign companies like Brazil's Petrobras and Spain's Repsol don't face expropriation of the hundreds of millions of dollars worth of investments and infrastructure they have staked in the Andean nation. That balance will probably require Venezuela to help subsidize the nationalization by pouring some of its own prodigious petro-wealth into Bolivia's threadbare state energy company, YPFP...
...fans insist the possibilities are real. In the Corinthia - Libya's only luxury hotel, boasting $300-a-night rooms - Western executives crowd the lobby. American executives will need to catch up with European oil businesses, which remained in Libya through decades of U.S. sanctions. Italy's Eni, Spain's Repsol-YPF and France's Total have run Libyan subsidiaries with no American competition. Virtually all of Libya's oil - about 1.5 million barrels a day - is exported to Europe, and since October, millions of cubic meters of gas have flowed directly from Libya to Sicily through Eni and Libya...
...what they are doing, not just at the national level but also at the international level, and they know what businesses want." Many expect the Socialists to intervene in business less than the PP did. Four out of five of Spain's largest companies - Telefónica, oil company Repsol, BBVA, and utility giant Endesa - have chairmen appointed by the previous government. Some fear they will get turfed out. But while the government is said to have quietly encouraged Telefónica to invest more in broadband, for instance, few expect it to get heavy-handed. A drastic bloodletting, says...
...investment to the longtime pariah state. There was money to be made, right? Would Muammar Gaddafi have spent billions to pay off terror victims if he didn't expect a return? But most of the interested players are already there. European oil companies - including France's Total, Spain's Repsol, Germany's Wintershall and Italy's Eni - maintained a dormant presence in Libya after U.N. sanctions were imposed in 1992 for Tripoli's suspected role in the 1988 Lockerbie bombing. They quickly revved up after sanctions were suspended in 1999, when Libya surrendered two suspects. That allowed Libya to export...