Skip to comments.Venezuela seizes oil rigs owned by US company
Posted on 06/24/2010 3:32:30 PM PDT by jackspyder
CARACAS, Venezuela Venezuela's government has seized control of 11 oil rigs owned by U.S. driller Helmerich & Payne, which shut them down because the state oil company was behind on payments.
Oil Minister Rafael Ramirez announced that Venezuela would nationalize the Tulsa, Oklahoma-based company's rigs. He said in a statement Wednesday that Helmerich & Payne had rejected government demands to resume drilling operations for more than a year ...
(Excerpt) Read more at news.yahoo.com ...
I expect some snake and nape from an airplane suited for such delivery devices might be effective in neutralizing those rigs would work!
We got our Ellsworth Toohey and he’s making sure the d’Anconias of the world are put in their place!
Don’t they call Citgo “Valero” now?
The Obozo has made the US a weakling in the world.
You all should be concerned about your own property. They tax you, and tax you, and tax you, and you don’t flinch. Why wouldn’t foreign governments believe us weak and easy prey when Americans seem to be quite comfortable, and quite passive in their new place as pawns and slaves.
It’s the beginning of a free-for-all socialist feeding frenzy. Guess who’s for dinner?
an act of WAR, for a real president...for our pres__ent it is an act of Marxist love.
No, Valero is an American company. I believe “Valero” refers to the formal name of The Alamo.
No no no Valero is a Texas based company! Corpus Cristi home to Valero and Whataburger
If were an investor in Ensco, I'd be bailing out right now.
Valero was created on January 1, 1980, as a spinoff from the Coastal States Gas Corporation. At the time, it was the largest corporate spin off in U.S. history. Valero took over the natural gas operations of the LoVaca Gathering Company, a defunct subsidiary of Coastal States Gas. The name Valero comes from Misión San Antonio de Valero, better known worldwide as The Alamo.
The company acquired a small oil refinery in Corpus Christi, Texas, in 1981, and began refining operations in 1984.
In 1997, Valero spun off its refining and retail divisions into a separate company, which kept the Valero name. At the same time, the remaining divisions, which consisted primarily of natural gas operations, were acquired by the Pacific Gas and Electric Company. Later that year, Valero acquired Basis Petroleum, which left it with four refineries in Texas and Louisiana. They then acquired a Paulsboro, New Jersey, refinery in 1998, the company’s first refinery outside of the Gulf Coast area.
In 2000, Valero purchased ExxonMobil’s Benicia, California, refinery and interests in 350 Exxon-branded service stations in California, mainly in the San Francisco Bay area. The company also began retailing gasoline under the Valero brand. In June 2001, the company acquired the Huntway Refining Company, along with two asphalt plants on the west coast.
On December 31, 2001, Valero completed its acquisition of Ultramar Diamond Shamrock. This merger left Valero with over 4,700 retail sites in the U.S., Canada, and the Caribbean. With this acquisition, Valero also received ownership of Shamrock Logistics L.P., which was renamed Valero L.P. In 2006, this division was spun off as NuStar Energy. Starting in 2002, Valero has been expanding its marketing to the East Coast, specifically the Northeast and Florida, using the Valero brand.
On April 25, 2005, Valero agreed to buy Premcor, Inc., for 8 billion in cash and stock to become the largest U.S. refiner, as record prices for gasoline and other fuels boost profits, and on June 30 announced it was beginning a two-year process of converting Diamond Shamrock stations to the Valero brand. The next year, on May 5, 2008, the company agreed to buy 72 Albertson’s gas stations.
Valero laid off 500 employees at its Delaware City, Delaware refinery on November 20, 2009, due to profitability concerns. It is reported that the refinery had lost $1,000,000 per day since the beginning of the year.
Impotent Superpower bookmark.
Exactly America is no longer the stalwart leader in the world that it once was, George W Bush tried to revive our standing as a leader and he was crucified by the pansies on the left those like Obama that do not believe in American exceptionalism and want to destroy American values and create one world order. Our country is doomed if we keep electing Milquetoasts like Obama. In fact just today Obama in his Presser with Medevedev said “The days of America as a world economi engine are over”.... Can you believe the leader of this nation actually said that? He knows that Russia and China are teaming up to adopt a new world currency standard and get off of the dollar and he says crap like this.
nice - I will send to everyone
I recall several months ago he seized the Hilton Hotel on Margarita Island, I am sure nothing was done about that either.
Rush was talking about this today. He said at least Hugo wants to use them to actually drill for oil. Obama wants all drilling stopped!
Last I knew citgo was a 7 eleven gas. I quit pumping that trash when huey startrd trashing the US.
Name two Texas companies that produce gas.
Many thanks for the clarification. I was confused because a lot of Citgo stations became Valero stations overnight here in Phoenix.
(BTW, I forgive TX for Whataburger.)
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