Word: venezuelan
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
Overseas, the threat to Exxon is even greater. Incoming Venezuelan President Carlos Andres Perez has pledged to take over all foreign oil concessions, including plants and equipment, long before present agreements expire in 1983. The Saudi Arabian government has already bought 25% of Aramco, has negotiated an agreement to take over 51% by 1982, and will probably exert control much sooner...
...recent jump in prices, getting at this petroleum was considered too expensive to be profitable; the oil is so thick that dilutants often have to be poured into the wells to increase its fluidity so that pumps can suck it out. Now, because of the oil-price bonanza, the Venezuelan government has the cash to buy the sophisticated technology needed to exploit the find. At the same time, the government is being pressured to placate national pride by taking over control of foreign oil concessions before 1983, when most of them are scheduled to expire. Says one foreign oil executive...
...continent increasingly coming under the control of military rule, Venezuela is proving to be refreshingly addicted to the practice of democracy. For the fourth time since the overthrow of Dictator Marcos Perez Jimenez almost 16 years ago, Venezuelans trooped peaceably to the polls last week to elect a new President to a five-year term. The winner, with 48% of the vote-a near landslide by local standards-was Carlos Andres Perez, 51, a tough ex-Minister of the Interior and standard-bearer of the center-left Democratic Action Party. He immediately announced that he would not cut back...
...output of about 3.4 million bbl. of crude daily makes it the world's third largest oil producer (after Saudi Arabia and Iran), oil never became an issue. Both major candidates agreed that foreign oil concessions, mostly to American companies that now have a $2 billion investment in Venezuelan oil, must revert to Venezuelan control by a process of negotiation before the 1983 date called for in the original agreement...
...private deals when Saudi Arabia's Oil Minister Ahmed Zaki Yamani swings through major European capitals next week. Reports are circulating in Europe, however, that the Arabs are allowing international oil companies to beat the boycott, at least partially. The companies are said to be taking Indonesian, Venezuelan and Nigerian oil that is destined for Canada and other nonembargoed countries and diverting it to Dutch refineries. To make up the difference, the firms are shipping extra amounts of Arab oil to their refineries in nonembargoed nations...