Petrobras gets permit for U.S. deep waters

http://www.upi.com ^

[Lucky9teen]

WASHINGTON, March 18 (UPI) -- Washington has given Petrobras America Inc. permission to start oil and gas production in the Gulf of Mexico, a regulator said.

The Bureau of Ocean Energy Management, Regulation and Enforcement gave Petrobras approval to use a floating production storage offloading facility at its Cascade-Chinook project in the Gulf of Mexico.

The approval marks the first time FPSO technology will be used in U.S. waters of the Gulf of Mexico.

The oil and gas project is about 165 miles off the coast of Louisiana in 8,200 feet of water. The FPSO has a production capacity of 80,000 barrels of oil and 16 million cubic feet of natural gas per day.

The BOEMRE approved the production safety system permit and a supplemental deep-water operating plan from Petrobras. The regulatory agency said it was satisfied that operations would be safe from hurricanes and other natural disasters.

"These regulatory approvals pave the way for safe, new production of oil and gas resources in the Gulf of Mexico," BOEMRE Director Michael R. Bromwich said in a statement.

Noble Energy in early March was awarded a BOEMRE permit to drill in the Mississippi Canyon block about 70 miles south of the Louisiana coast.

The permit was for what the BOEMRE described as a bypass well meant to drill around a mechanical problem in the original hole.

Deep-water exploration is under scrutiny following the April oil spill in the Gulf of Mexico. The U.S. government lifted a moratorium on deep-water drilling in October, six months after the Deepwater Horizon oil rig caught fire and sank in the Gulf of Mexico.

[LRoggy]

Those who are making the Soros connection on this are inventing it, the sale was widely publicized a year ago.

I don’t disagree that Soros and Obama are an unhealthy combo, but it is silly to INVENT things that are easily traced through public records.

The people who are getting a payoff are those that purchase PBR stock going forward, which I have done for my clients this week. If you think this is such a sweetheart deal THEN BUY SOME STOCK in it. Not too tough to do.

[Vigilanteman]

See Post #34. This has been in the works for awhile.

[Ben Ficklin]

"Can we give this urban legend a rest now?"

Its not a urban legend, it a bogeyman myth, like what parents tell their children to scare them.

But instead of saying "the bogeyman is gonna get you", they say "Soros is gonna get you"

[NoGrayZone]

Sigh.....next year cannot come soon enough.

[thackney]

See post 29.

[Lucky9teen]

Obama Brings U.S. CEOs To Brazil

[Lucky9teen]

Obama Strengthens George Soros' Oil Interests In Brazil

Obama left his lush golf get-aways and NAACP basketball sprees to depart for a Brazilian vacation. There he personally looked after Brazil's oil companies.

We’ll also work to strengthen our relationship when it comes to energy. Brazil holds recently discovered oil reserves that could be far larger than ours, and as we seek to increase secure-energy supplies, we look forward to developing a strategic energy partnership. We’ll also continue our shared leadership in green economic growth and clean energy, including everything from biofuels to renewables such as wind and solar power. And as the host of the 2014 World Cup and 2016 Summer Olympics, Brazil is expected to invest more than $200 billion in upgrading its infrastructure — an area where America is primed to be a partner.

Obama abandoned the victims of genocide in Libya to help America's oil opposition. Why?

Out with Western oil, in with Russian and Brazilian oil. Is it just coincidence that George Soros sold his Western oil stock and bought stock in Russia and Brazilian oil companies, about three months ago?

Starting in 2009, George Soros invested heavily in Western oil companies in Libya. His investments brought enormous returns, and then at the end of 2010 he mysteriously sold them, and bought stock in Russian and Venezuelan oil.

Each Western company saw stock prices skyrocket over the last six months: Suncore Energy up 46%, Petroleo Brasileiro SA Petrobras up 15%, Occidental Petroleum up 36%, Marathon Oil Corp. up 61%, Conoco Phillips up 42%, Halliburton up 67%, Hess Corp up 57%.

Soros somehow knew to reduce Suncore stocks on New Years eve. Soros dumped almost all his holdings. Likewise, Soros dumped almost all of Halliburton on New Years eve. Same for Hess. Soros dumped almost all of Occidental at the end of September, along with most of Conoco Phillips. He dumped much of Marathon in June. Soros actually increased PBR but that might have more to do with its huge oil bock buy in Africa. Each company began to tumble over these last few days because of the bloody revolution in Libya.

Soros switched much of that over to Russia and Venezuela oil giant Harvest National Resources, which skyrocketed right after his initial September 2010 buy.

Last March, Soros invested in airport screeners. How did he know to do that? Insider info! But how did he know what would go down across the Middle East?

Soros was behind the Egyptian uprising. But it is crucial for him that Gaddafi must stay in power! Otherwise his Russian investments might lose out. That explains why Obama dittered on something as simple as a no-fly zone for 31 days!

[thackney]

Is it just coincidence that George Soros sold his Western oil stock and bought stock in Russia and Brazilian oil companies, about three months ago?

Why does your text say 3 months, but your link says it was from August 15, 2008?

Previous post show it was sold after that point.

[LRoggy]

Suncor (Not Suncore) closed on 12/31 around 35. It is now 45.

At the end of Sept 2010 Conoco sold at 46. It is now 78.

Yeesh! Do you bother vetting anything you read or post?

[LRoggy]

I am no fan of Soros but 15 YEARS AGO he authored the definitive book on trading, called The Alchemy of Finance. He was Jimmy Rogers partner at the Quantum Fund. His record for trading was established starting in the late 60’s. To think he is all of a sudden making huge fortunes today is ignoring how good a trader he was for a long time.

Long before he became a progressive nut case.

From Wiki:

In 1956, Soros moved to New York City, where he worked as an arbitrage trader with F. M. Mayer (1956–59) and as an analyst with Wertheim & Co. (1959–63). Throughout this time, Soros developed a philosophy of reflexivity based on the ideas of Karl Popper. Reflexivity, as used by Soros, is the belief that the action of beholding the valuation of any market, by its participants, affects said valuation of the market in a procyclical ‘virtuous or vicious’ circle.[24]

Soros realized, however, that he would not make any money from the concept of reflexivity until he went into investing on his own. He began to investigate how to deal in investments. From 1963 to 1973, he worked at Arnhold and S. Bleichroder, where he attained the position of Vice-President. Soros finally concluded that he was a better investor than he was a philosopher or an executive. In 1967, he persuaded the company to set up First Eagle, an offshore investment fund for him to run; and, in 1969, it founded the Double Eagle hedge fund for him.[24]

In 1973, when investment regulations restricted his ability to run the funds as he wished, he resigned his position and established a private investment company, which evolved into the Quantum Fund. He has stated that his intent was to earn enough money on Wall Street to support himself as an author and philosopher —he calculated that $500,000 after five years would be possible and adequate.

[Lucky9teen]

I didn't write the blog...so I don't know why the link has a differing date than the text...

Nonetheless, 3 months ago, George Soros' investment firm, Soros Fund Management, filed a 13G with the SEC regarding shares of Harvest Natural Resources (HNR). Per portfolio activity on January 24th, 2011, Soros has disclosed a 5.94% ownership stake in HNR with 2,008,417 shares. This marks a 241% increase in Soros' position size as the hedge fund owned 588,100 shares at the end of September last year.

Harvest Natural Resources is "an international petroleum exploration and production company. The Company focuses on acquiring exploration, development and producing properties in geological basins with proven active hydrocarbon systems. The Company holds interests in Venezuela, the Gulf Coast Region of the United States through an area of mutual intent (AMI) agreement with two private third parties, the Antelope prospect in the Western United States through a joint exploration and development agreement (JEDA), and exploration acreage mainly onshore West Sulawesi in the Republic of Indonesia (Indonesia), offshore of the Republic of Gabon (Gabon), onshore in Oman and offshore of the People’s Republic of China."

[Lucky9teen]

It's now about him making huge fortunes.....it's about him destroying countries in doing so. DUH!
George Soros: "It's fun to destabilize oppressive regimes... America is [oppressive] and stands in the way of the New World Order"

[LRoggy]

You’ve just lost your credibility.

That quote is a headline written by the blogger, it is not a quote from Soros. Show me the actual quote from a reputable source and I’ll eat crow. Quoting a made up blog title does not qualify.

[Lucky9teen]

Wow...really?

See for yourself, George Soros (IN HIS OWN WORDS)..."...it was a learning process. The first part was a subversive activity, disrupting oppressive regimes....that was a lot of fun, actually that is what got me hooked..."

Also this one

[Vigilanteman]

Business Week is to business news what Newsweek is to other news. They seldom get their predictions right and their facts are seldom any more than partially right, at best.

I have no doubt that a snake like Soros would sell Petrobras openly while using surrogate hedge fund holdings to buy more secretly.

[Sun]

“At least 13,000 jobs have been lost, according to Louisiana State University professor Joseph Mason’s latest estimates. Isn’t it high past time to send Salazar and his misery-inducing eco-radicals packing? How about exporting them to Brazil?”

excerpt http://www.cnsnews.com/commentary/article/drilling-ken-salazar

[freekitty]

You tell me.