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Oil firms forming Venezuela Carabobo consortiums

Reuters -- CARACAS (Reuters) - Nineteen companies that have shown interest in the tender for Venezuela's Carabobo heavy crude blocks are jostling to form consortiums to present bids for the three areas on offer, industry sources said.

The Carabobo Project aims to build three upgraders to turn the Orinoco belt's tar-like crude into oil for exports and produce around 200,000 barrels per day, with the initial investment seen between $10 billion and $20 billion per area.

A number of possible partnerships are in the works, although none are finalized, company and government sources with knowledge of the process told Reuters in recent days.

A partnership between state-run China National Petroleum Corp and France's Total (TOTF.PA) is on the table along with another between CNPC and refiner Sinopec Corp

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Submitted Jul 04, 2009 By: liltruckman

Category: Daily News Article Discussions > Topics	Add to favorite topics Post New Topic

Author	Topic: Oil firms forming Venezuela Carabobo consortiums	Post a Reply Back to Topics

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FISHERW All-Star Author Winnipeg Posts:515 Points:179,770 Joined:Apr 2009	Message Posted: Jul 4, 2009 1:16:32 PM Ignore FISHERW Report Abuse interesting
MikLamb Champion Author Texas Posts:1,613 Points:915,515 Joined:Jun 2006	Message Posted: Jul 4, 2009 1:15:51 PM Ignore MikLamb Report Abuse China and France deserve each other.
mysub Champion Author Las Vegas Posts:2,855 Points:1,078,065 Joined:Apr 2006	Message Posted: Jul 4, 2009 1:15:38 PM Ignore mysub Report Abuse Anyone that goes in on anything with Venezuela deserves what they get and it won't be anything in their favor when they deal with chavez
Gerg001 Champion Author San Bernardino Posts:2,258 Points:568,340 Joined:Feb 2006	Message Posted: Jul 4, 2009 1:14:35 PM Ignore Gerg001 Report Abuse Colusion!!!
balljars Champion Author Michigan Posts:2,269 Points:453,075 Joined:Aug 2008	Message Posted: Jul 4, 2009 1:11:41 PM Ignore balljars Report Abuse We will not get in on this bidding either.
BornToulouse Veteran Author Georgia Posts:411 Points:71,315 Joined:Jul 2009	Message Posted: Jul 4, 2009 1:11:17 PM Ignore BornToulouse Report Abuse All savvy consumers take note. These are events we cannot stop or influence. However, one can INVEST a portion of ones portfolio to at least share in some future profits these companies that are involved will make. Just sayin...hey, if ya can't fight 'em...join 'em.
nojsts Champion Author St. Louis Posts:13,010 Points:2,621,595 Joined:May 2002	Message Posted: Jul 4, 2009 1:09:25 PM Ignore nojsts Report Abuse Drill here and use our oil.
AuburnTim Champion Author Indiana Posts:2,374 Points:585,845 Joined:May 2005	Message Posted: Jul 4, 2009 12:50:15 PM Ignore AuburnTim Report Abuse More Corruption
Tnerbeel Champion Author Houston Posts:2,310 Points:490,760 Joined:Mar 2007	Message Posted: Jul 4, 2009 12:46:34 PM Ignore Tnerbeel Report Abuse Any of these companies that invest in Venezuela need to be prepared to be burned by Chavez. You play with fire ..., you dance with the devil..., etc.
hockeydadOH Sophomore Author Cincinnati Posts:201 Points:69,810 Joined:Jun 2009	Message Posted: Jul 4, 2009 12:45:31 PM Ignore hockeydadOH Report Abuse I love outridin's comment Way too funny
day49 Veteran Author Washington Posts:470 Points:487,500 Joined:Apr 2007	Message Posted: Jul 4, 2009 12:45:09 PM Ignore day49 Report Abuse Wonder how soon before Venezuela nationalize the oil fields. We shouldn't have anything to do with that dictator.
dabuzman Champion Author Seattle Posts:2,824 Points:795,205 Joined:Apr 2006	Message Posted: Jul 4, 2009 12:43:40 PM Ignore dabuzman Report Abuse Funny bed fellows, but not surprising. I out on this one yet!
djgunrunner Champion Author Salt Lake City Posts:3,361 Points:1,099,275 Joined:Apr 2005	Message Posted: Jul 4, 2009 12:41:43 PM Ignore djgunrunner Report Abuse Are they going to let bids so that they nationalize this too?
outridin Champion Author Illinois Posts:8,781 Points:1,789,435 Joined:Jan 2004	Message Posted: Jul 4, 2009 12:39:11 PM Ignore outridin Report Abuse oil fields of nightmares-- build it and they will nationalize it.
TRAIN RIDER Champion Author San Bernardino Posts:2,877 Points:1,518,395 Joined:Oct 2004	Message Posted: Jul 4, 2009 12:38:37 PM Ignore TRAIN RIDER Report Abuse OIL IS STILL AN IMPORTANT COMMODITY.
tobasco Champion Author Los Angeles Posts:4,552 Points:1,126,065 Joined:Mar 2004	Message Posted: Jul 4, 2009 12:34:29 PM Ignore tobasco Report Abuse And this is important because...
roadrunnerMO Champion Author Kansas Posts:2,045 Points:449,290 Joined:Jul 2008	Message Posted: Jul 4, 2009 12:34:05 PM Ignore roadrunnerMO Report Abuse Do not want any part of them. They can nationalize the companies and take their assets after they start working for Venezuelan companies.
unicornpmb Champion Author Buffalo Posts:2,085 Points:364,415 Joined:Sep 2005	Message Posted: Jul 4, 2009 12:23:28 PM Ignore unicornpmb Report Abuse Strange bed fellows.
WVPhoenix Champion Author Charleston Posts:6,608 Points:1,011,965 Joined:Jan 2006	Message Posted: Jul 4, 2009 12:09:43 PM Ignore WVPhoenix Report Abuse Buy only American on this Fourth of July!
uglytom Champion Author Florida Posts:1,787 Points:418,125 Joined:Jul 2007	Message Posted: Jul 4, 2009 12:06:25 PM Ignore uglytom Report Abuse Who can predict Venezuela's next move?
jwalkerh Champion Author Louisiana Posts:1,089 Points:313,135 Joined:Oct 2008	Message Posted: Jul 4, 2009 12:04:58 PM Ignore jwalkerh Report Abuse It's all about money, always had been and always will be.
Don1222 Champion Author Michigan Posts:4,542 Points:477,405 Joined:Jul 2008	Message Posted: Jul 4, 2009 12:04:43 PM Ignore Don1222 Report Abuse Support alternative fuels. Hydrogen fuel cells.
theduster1 Champion Author Texas Posts:1,411 Points:315,310 Joined:Apr 2008	Message Posted: Jul 4, 2009 12:04:43 PM Ignore theduster1 Report Abuse ok big oil big bucks for the oil
papagreg Champion Author Sacramento Posts:1,312 Points:461,300 Joined:Jan 2008	Message Posted: Jul 4, 2009 12:02:39 PM Ignore papagreg Report Abuse I don't understand. Isn't this the same Hugo Chavez that took over all the oil fields and production in Venezuela and then kicked out all the oil companies? When these fools get involved with Chavez again, they'll get what they deserve. Too bad for us that they'll pass it on to us too!
NavyEOD Champion Author Los Angeles Posts:3,713 Points:776,565 Joined:Jul 2007	Message Posted: Jul 4, 2009 11:54:08 AM Ignore NavyEOD Report Abuse Big dollars for Venezuela.
HawaiianGuy Champion Author Idaho Posts:3,171 Points:1,830,105 Joined:May 2003	Message Posted: Jul 4, 2009 11:53:31 AM Ignore HawaiianGuy Report Abuse Watch the Chinese move in on Venezuela and Cuba while we sit on vast reserves just off our shores, unable to develop them because of the Messiah and his EnviroNazis. For a guy who had essentially nothing on his resume' besides "Community Organizer", he's managed to somehow become the most powerful man in the world. Only in America...
fitwit All-Star Author Stockton Posts:802 Points:177,605 Joined:May 2009	Message Posted: Jul 4, 2009 11:50:50 AM Ignore fitwit Report Abuse We are talking about the ugly Hugo Chavez from Venezuela and Chevron with their cute little car ads is buying his oil. By 76, Arco, Valero.
travelzonecente Champion Author Riverside Posts:1,762 Points:413,790 Joined:Jun 2008	Message Posted: Jul 4, 2009 11:50:27 AM Ignore travelzonecente Report Abuse Venezuela oil is very expensive to refine.
Wonderdaddie Champion Author Alabama Posts:1,124 Points:196,290 Joined:Apr 2008	Message Posted: Jul 4, 2009 11:49:19 AM Ignore Wonderdaddie Report Abuse whatever, we will see...
Wonderdaddie Champion Author Alabama Posts:1,124 Points:196,290 Joined:Apr 2008	Message Posted: Jul 4, 2009 11:48:36 AM Ignore Wonderdaddie Report Abuse okay
pricechecker08 Champion Author Ohio Posts:2,679 Points:553,040 Joined:Jan 2008	Message Posted: Jul 4, 2009 11:45:14 AM Ignore pricechecker08 Report Abuse Big Investment>
foxups Champion Author Toledo Posts:2,817 Points:554,110 Joined:Feb 2004	Message Posted: Jul 4, 2009 11:43:35 AM Ignore foxups Report Abuse we need to be independent of all these countries