No, no connection at all (CVX)

Update I hear from the El Universal reporter, Ernesto Tovar, that the interview actually took place before Maduro spoke. That just shows that Chevron wasn’t responding to Maduro, nor Maduro to Chevron. The differences in their discourses is enlightening.

March 1:

Nicolás Maduro: La agresión de Chevron a Ecuador es también contra Venezuela

(Nicolas Maduro, de facto president of Venezuela, says Chevron Corp. is attacking Venezuela by, I guess, defending itself against what’s likely the biggest environmental law verdict ever. His phrasing was reminiscent of the NATO treaty, which declares that an attack on one is an attack on all.)

March 4:

Estamos abiertos a ampliar el financiamiento a Petropiar

(Ali Moshiri, president of the Chevron Corp. division responsible for oil production in Africa and Latin America, gives a rare lengthy interview in the Venezuelan press and says “The collaboration between Chevron and PDVSA is one of the best.”)

As is so often the case, strong words from the Bolivarian government against a multinational oil company coincide with the government’s opening to increased investment from a multinational oil company.

Moshiri says:
– Chevron invested $300 million last year — financed by Chevron — to increase production at Petropiar, the company’s joint venture with state oil company PDVSA that produces heavy oil in the Orinoco Belt. Production in Petropiar and the company’s Petroboscan joint venture are at their highest level since the projects were new.
– He’s in Venezuela to request permission from the government to increase Petropiar production even further, to 230,000 to 250,000 barrels a day.
– Chevron is financing a PDVSA work program. Won’t say how big, but prior reports were that it’s $2 billion.
– The cut in the windfall profits contribution is “great news, not only for operators but for investors. It’s a perfect signal from the Venezuelan government to get investors to come and want to expand here. It’s a big and opportune decision, and a good sign that the Oil Ministry listens to the private sector, where we were concerned about this. It’s an absolutely positive signal.”
– Chevron has reached out to Ecuador Pres. Rafael Correa to try to resolve the environmental lawsuit, and is open to mediation by ALBA (the Venezuela-led political bloc) or Unasur (the Union of South American states).

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3 thoughts on “No, no connection at all (CVX)

  1. NorskeDiv

    Of course Ecuador has no liability at all for the all the environmental damage created by what was a venture majority owned by the Ecuadorian government(!).

    No doubt, at some point in the future when the environmental wreckage of Chavez’s administration is examined, Venezuelans will look for some deep pockets to bail the country out. Perhaps China will have the pleasure of being sued for billions of dollars.

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