Would you like to start a free subscription?
Remember me | Forgot password
For full content view: Log in Now!
Oil majors and stock investors are looking at May 1st nervously, since the Venezuelan government has set this date as the deadline for major oil companies to renegotiate contracts in the Orinoco basin. In early February, the Venezuelan legislature gave President Hugo Chávez long-expected special powers to rule by decree over the next year-and-a-half. This will enable Chávez to pass decrees on key sectors, such as banking, defense, energy, insurance, media and telecommunications.
In the oil sector, Petróleos de Venezuela, PdVSA, would like to increase its stake to 60% in the four major Orinoco projects from its current holdings of 30-49.9%. If BP, Chevron, ConocoPhilips, ExxonMobil or Statoil refuse to renegotiate, or if their terms are unacceptable to the Venezuelan government, these companies fear that their stakes might be nationalized outright. Their fears are not unfounded . . .
This area of the site is restricted.
In order to gain access, please either Log
In, or subscribe to World Oil.
Two options are available to you for creating an account.
1. Get a Free Trial Subscription to World Oil Magazine and gain immediate access to select content on World Oil Online.
Start a Free Trial Subscription and gain immediate access to the complete current issue of World Oil Magazine. Plus, you’ll receive 3 upcoming issues of World Oil Magazine in print or digital format.* You also receive access to the Energy Events Calendar, Industry Statistics and WO Wire’s news and industry coverage.
2. Purchase a subscription to World Oil magazine and gain immediate
and complete access to World Oil Online. As a Total Access subscriber
you will have access to all areas of the site available to registered users and
free subscribers as well as having access to such premium content areas as:
Physical copies of this content may be available for purchase. Visit the Reprints & Back Issues section.
If you are already a paid subscriber and do not have access, please email CustomerService@worldoil.com.
World Oil's specialized upstream Engineering Data Tables featuring the Drill Bit Classifier, Tubing Tables and more. Get Total Access today.
New Delhi - January 11-14
Muscat - January 26-29
Bogota - January 28-29
All material subject to strictly enforced copyright laws.
© 2014 World Oil. © 2014 Gulf Publishing Company.