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POLITICS IS POLITICS AND BUSINESS ARE BUSINESS: COLOMBIA AND VENEZUELA TIED BY OIL

2/5/08
POLITICS IS POLITICS AND BUSINESS ARE BUSINESS: COLOMBIA AND VENEZUELA TIED BY OIL
* In our Spanish edition, on Jan. 28th., about the UK denying access to oil-rich Falklands to Argentina and the Argies exploiting oil in Chubut in joint venture with a British company I wrote: "While on one hand the UK and Argentina kill each other for the Malvinas (Falklands) on the other hand they shake hands to extract oil from Chubut (South of Argentina). One thing are the superficial diplomatic political diatribes and another thing is the huge oil business, that never stop. Will this be the same case if a 'war' between Venezuela and Colombia breaks out? While on the surface Uribe and Chavez slap each other will they continue with the strategic Transguajira oil and gas pipeline in silence? It would not be the first time since even in Iraq, the biggest genocide in mankind's history so far, where we can see explosions every day, they still can extract oil. (...) despite death, good business can be done."

Venezuela's PdVSA Buys Colombian Gas Despite Diplomatic Clash
CARTAGENA, Colombia -(Dow Jones)- Venezuela's state-owned oil company Petroleos de Venezuela SA, or PdVSA, is buying between 80 million and 90 million cubic feet of natural gas from Colombia even though Venezuelan President Hugo Chavez said recently his government would shelve all energy deals between both countries.
Colombian Mines and Energy Minister Hernan Martinez said PdVSA started to buy natural gas from Colombia through a pipeline that was recently built and inaugurated in October.
"We fulfill our part of the contract and they fulfill theirs," Martinez said. "Actually they are even buying a little more that agreed."
The gas is produced in the Ballena field in the Colombian northern province of Guajira by Colombian state-owned oil company Ecopetrol SA (ECOPETROL.BO) and Chevron Corp. (CVX). PdVSA had first offered to buy 50 million cubic feet of gas a day.
According to the agreement, PdVSA spent $467 million to build a 224-kilometer pipeline to ship Colombian gas to Maracaibo, according to the Venezuelan government.
Last month, Chavez said his government planned to shelve all energy deals with Colombia when he accused Colombia of planning a military attack against his country with the support of the U.S.
In recent weeks, relations between the two countries have faltered, following a Colombian decision to cancel Chavez's mediation in its military conflict with the FARC rebel group.
So far there is no problem on the gas contract, Martinez said. "We'd expect them to keep fulfilling with their part," he said.
The contract specifies that Ecopetrol and Chevron will raise exports to 150 million cubic feet a day in 2009 and 2010, and then reduce them to 100 million cubic feet a day in 2011. PdVSA will start to export gas to Colombia in 2011.
Venezuela needs to import natural gas despite its own huge reserves because it lacks infrastructure and sufficient investment in natural gas output.
PdVSA has two other projects under evaluation in Colombia: the construction of an oil pipeline through the whole country to ship Venezuelan oil to the Pacific coast to send it to Asia, and a gas pipeline to export Venezuelan gas through Panama and further into Central America.
http://venezuela21stcentury.blogspot.com/2008/02/politics-is-politics-...

By Monpirri on Feb 14, 2008, 07:31 in Friendly Talkzone.

jh816 says on Feb 14, 2008, 08:01:

hah! I love it. "PdVSA will start to export gas to Colombia in 2011". At the rate their going, their won't be a PdVSA or a Chavez by 2011.

0 funny, 0 helpful.

huskie says on Feb 14, 2008, 08:57:

http://photos-314.ll.facebook.com/photos-ll-sctm/genericv2/1037/90/01A...
Ayuda para estripar este sapo!!!

"Great spirits have always encountered violent opposition from mediocre minds-"

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huskie says on Feb 14, 2008, 09:06:

Dios nos ampare de este Loco!!!

Que tal?

"Great spirits have always encountered violent opposition from mediocre minds-"

0 funny, 0 helpful.

Monpirri says on Feb 15, 2008, 17:33:

It's an interesting clip but I think there is too much euphoria going around among some groups or tv stations and it's even more evident here at pbh.

The life spam of a taste bud is ten days

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