Venezuela to nationalize 11 oil rigs owned by US company 3 replies

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I'm too cool to Post

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17th July 2003

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#1 8 years ago

Venezuela to nationalize U.S. firm's oil rigs | Reuters

The 11 oil rigs, which have idled due to non payment by the Venezuelan state owned oil companies are now to be nationalized (read as seized).

Looks like Haliburton and BP have resources there as well.

With this Chavez will have seized almost all the Venezuelan oil industry.

Not really surprised but Im curious to see how far this guy can go before someone bloodies his nose.

We know he hates Columbia due to a US presence but he is also apparently pissing off Brazil as well. Not a good move as Brazil is the best trained and equipped military in South America.

Roaming East

Ultima ratio regum

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7th November 2005

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#2 8 years ago

incoming US 'liberation' in 3...2...1...


5.56 smoke Haji every day

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18th July 2008

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#3 8 years ago

I'm actually surprised he didn't do this a long time ago.

MrFancypants Forum Admin

The Bad

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7th December 2003

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#4 8 years ago

[COLOR="Black"]That's always a big risk when investing lots of money into an unstable country.

I believe nationalization without compensation is against international law. Maybe it is time to slap some sanctions on Venezuela. [/COLOR]