Posted on 05/06/2018 5:10:15 PM PDT by BenLurkin
The U.S. firm targeted facilities on the islands of Bonaire and St. Eustatius that play critical roles in processing, storing and blending PDVSA’s oil for export. It received court attachments that froze the assets pending further action, one of the sources said.
The attachments could further impair PDVSA’s declining oil sales and the country’s convulsing economy. Cash-strapped Venezuela is almost completely dependent on oil exports for revenue. It is in the grip of a deep recession with severe shortages of medicine and food as well as a growing exodus of its people.
PDVSA and the Venezuelan foreign ministry did not respond on Sunday to requests for comment. Dutch authorities said they are assessing the situation on Bonaire.
“Any potential impacts on communities are the result of PDVSA’s illegal expropriation of our assets and its decision to ignore the judgment of the ICC tribunal,” Conoco said in an email to Reuters.
The U.S firm added it will work with the community and local authorities to address issues that may arise as a result of enforcement actions. Conoco declined to elaborate on its court actions.
PDVSA has significant assets in the Caribbean. On Bonaire, PDVSA owns the 10-million-barrel BOPEC terminal that has been critical to its logistics and fuel shipments to customers, particularly in Asia.
(Excerpt) Read more at theglobeandmail.com ...
Why can’t we send The Burn there as an emissary to fix things up?
Everything possible should be taken from Venezuela.
After all, they stole everything they could.
It’s an imperialist plot by gringo capitalists to bring down the glorious socialist Utopian revolution created under El Comandante Chavez.
The chickens are coming home to roost. I remember when Allende expropriated the General Tire plants in Chile back in the 1970's and paid GT one dollar for each plant. About five years later, he was hat-in-hand asking for replacement parts from GT and their suppliers. Fortunately, they all told him to take a hike. He died of gun shot wounds in a coup d'etat when people got a little miffed at his handling of the economy. I think Maduro is heading for the same fate.
Venezuela does have 2 LST’s and the island of Bonaire is only 100 miles off the coast. Don’t know if they’re seaworthy or have any fuel, but Maduro has to be tempted. Of course, he needs the facilities intact and shipping to be any good to him, so it would be pretty dumb, but he isn’t exactly smart.
We can hope...
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