I will believe the Saudis don't see any upcoming problems with Ghawar when they cancel one of their projects due to low oil prices. If they continue to be full steam ahead with increasing their capacity then I think they are aware that Ghawar may not be as robust in 5 years time as they would like us to believe.
Joined: Sep 11, 2007 Posts: 375 Location: In freefall speed right down to the claws of the devil
Posted: Tue Jul 15, 2008 3:17 pm Post subject: Welcome to the "Three red Stooges" kinda politiks!
First off, its the title of the article:
Quote:
Correa, Chavez y Ortega inauguran ambiciosa obra petrolera en Ecuador
The "Three of them" inaugurated this ambitious, around $10 BILLION oil project, to process 300.000 barrels/day in Ecuador ..... yet it will be "ready" by 2012.
Se trata de una obra de por lo menos 6.600 millones de dolares de inversion -Correa estima que esta puede elevarse a los 10.000 millones-, con capacidad para procesar 300.000 barriles diarios de crudo y que estara terminada hacia 2012, segun los gobiernos.
La planta -que creara en sus distintas fases 12.000 empleos temporales y permanentes- se levantara en una zona despoblada vecina del puerto pesquero de Manta (suroeste), conocida como El Aromo, en cuyas inmediaciones esta el bosque seco y humedo de Pacoche.
El impacto sobre la reserva preocupa a un grupo de ecologistas, a los que el presidente ecuatoriano llamo el sabado "aninados (ricos) desocupados", advirtiendoles sobre cualquier intento de sabotaje, so pena de sacarlos "a planazo limpio".
The impact such project may have is of high concern to enviromentalists, to whom the ecuatorian pres reffered to as " spoiled rich vague little boys" and warned them of any attempt to sabotage the works will be severelly punished by force
Ecuador -que junto con Venezuela son los unicos miembros latinoamericanos de la Organizacion de Paises Exportadores de Petroleo (OPEP)- aspira a que la planta le permita reducir sensiblemente el presupuesto de 3.000 millones de dolares que destina anualmente a la importacion de combustibles.
Interesting......Ecuador, which is, together with Venez ..... errr, chavezuela, the only south american country to be members of OPEC, wishes, through this move, to noticeably reduce its energetic bill of $3 Billion/year.
Los dos mantienen varias alianzas petroleras, que incluyen el intercambio de combustibles venezolanos por crudo ecuatoriano, el cual alcanzo los 800 millones de dolares en 2007, segun las autoridades venezolanas.
The two of them keep several alliances. One is to give crude oil while the other receives some of fueling products back, for up to 800 Million bucks, as said by ven.
Correa y sus homologos planean ir hasta el area en helicoptero para firmar el acto de constitucion de la empresa mixta responsable del proyecto. La estatal Petroecuador tendra el 51% de participacion mientras Petroleos de Venezuela (PDVSA) el 49% restante.
Correa and the others such stooges have planned to fly by chopter over the area to SIGN the constitutive act of the mixed enterprise responsible for the execution of the project. Petroecuador is to hold 51% and the 49% per cent left to the other clown.
Venezuela is buying oil from Russia in order to avoid defaulting on deliveries to clients. The situation raises serious questions about the country's oil production and the future of PDVSA as a major oil producer, and increases the risk to the U.S. oil supply should the country's oil production suddenly plummet.
Quote:
Ecuador might default on external debt
Following the lead of his close ally Chavez, Ecuadorian President Rafael Correa has demanded a national referendum on whether or not the country's constitution should be rewritten to restrict the authority of political parties.
Moody's Investors Service downgraded Ecuador's sovereign ratings deep into junk debt territory, citing concerns that the country might default on its debt obligations in the near future.
By the way, sorry IF there are serious people here from that brother country. This is just the way I feel about this mediatic show turned into "political/social" madness.
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