Oil rich Venezuela imports...Oil

[flamer84]

Venezuela’s economic woes just won’t quit. Its currency recently hit an all-time low with black market traders. Now the South American country has to ration food – and, believe it or not, import oil.
Venezuela has the world’s largest oil reserves. But it produces mostly thick, heavy crude that has to be mixed with lighter oil to make it usable. Problem is, Venezuela’s seriously mismanaged state-run oil industry isn’t pumping enough light crude. So this weekend the country will receive its first ever shipment of foreign oil: two million barrels from Algeria

How Bad Are Things In Venezuela? It's Rationing Food – And Importing Oil | WLRN

Rationing food,running out of toilette paper and importing oild altough they're an oil rich nation just because the dummies can't rafine their own oil after driving the "imperialist pigs" out of the country.Viva el socialismo !

 

[ROCK1NG]

Now that oil prices are declining rapidly, tough times are ahead for venezuela

 

[BestUsernameEver]

How Bad Are Things In Venezuela? It's Rationing Food – And Importing Oil | WLRN

Rationing food,running out of toilette paper and importing oild altough they're an oil rich nation just because the dummies can't rafine their own oil after driving the "imperialist pigs" out of the country.Viva el socialismo !

I don't know if it's true, but I've heard on a talk on YouTube (by a Stratfor analyst) that the consistency of Venezuelas crude oil is like toothpaste....which is obviously a big disadvantage and could explain, at least in part, why they import oil.

 

[Basel]

This is same as gas rich Pakistan is going for gas imports through pipe lines and LNG through ships.

 

[scholseys]

This is same as gas rich Pakistan is going for gas imports through pipe lines and LNG through ships.

its not..

 

[nvKyleBrown]

They import oil? or they import petroleum products? There are a number of countries that don't have the refining facilities to produce some petroleum products, and consequently have to export oil and import gasoline, for example. Oil does not turn itself into usable end-user-products.

Alternatively, large non-socialist countries (the US), one company may chose to buy from overseas because it can negotiate a better price there than locally, resulting in some weird cases of identical products going opposite directions in the same freight system. A planned system (Venezuela) should not have those issues unless the planners are failing or the products aren't really identical.

In this case, they need light crude to process their heavy crude, so, not the same product. Just sounds funny if you leave out the "light" and "heavy" descriptors.

 

[DeVice]

A planned economy by idiots to be precisely.

 

[Darmashkian]

LOL
I knew that the Venezuelan government and authorities,(like all most all socialist nations) are corrupt and incompetent.

But I never knew that their condition was that bad.

It looks like "The Bolivarian Revolution" could turn out to be an economic disaster for the country.

 

[Basel]

its not..

What you really know about the vast resources Pakistan has?? Pakistan is rich in resources which many countries only can dream of, in recent year gas has been discovered in several part of Sindh Provence and it is said that Sindh is full of gas while coastal areas have shale oil & gas reserves, just imagine what other parts of Pakistan hold beneath earth? Gilgit Baltistan is also said to be oil n gas rich.

Associated Press Of Pakistan ( Pakistan's Premier NEWS Agency ) - Pakistan shale gas reserves estimated at 51 trillion cubic feet
.
http://www.sdpi.org/publications/files/Shale_Gas_Viability_and_Prospects_for_Pakistan.pdf

 

[scholseys]

What you really know about the vast resources Pakistan has?? Pakistan is rich in resources which many countries only can dream of, in recent year gas has been discovered in several part of Sindh Provence and it is said that Sindh is full of gas while coastal areas have shale oil & gas reserves, just imagine what other parts of Pakistan hold beneath earth? Gilgit Baltistan is also said to be oil n gas rich.

Associated Press Of Pakistan ( Pakistan's Premier NEWS Agency ) - Pakistan shale gas reserves estimated at 51 trillion cubic feet
.
http://www.sdpi.org/publications/files/Shale_Gas_Viability_and_Prospects_for_Pakistan.pdf

Extracting shale is a whole another ball game, its not feasible at the moment. In time the tech would get more feasible and the western companies will be bidding for the blocks. Venezuela has kicked the western companies out and their infrastructure is falling apart.

 

[Basel]

Extracting shale is a whole another ball game, its not feasible at the moment. In time the tech would get more feasible and the western companies will be bidding for the blocks. Venezuela has kicked the western companies out and their infrastructure is falling apart.

I just posted it that you can get a glimpse what Pakistan have and don't worry US companies are active to work on shale project, do u know why US is not so independent in oil n gas? its their capability to extract their reserves and now they are ready to do it in Pakistan and they also want to work in other part of Pakistan too.

Venezuela is extracting oil since long and the have required expertise Pakistan does not have those so like ME countries we have to work with western or Chinese companies to get access to our hidden wealth.

 

[scholseys]

I just posted it that you can get a glimpse what Pakistan have and don't worry US companies are active to work on shale project, do u know why US is not so independent in oil n gas? its their capability to extract their reserves and now they are ready to do it in Pakistan and they also want to work in other part of Pakistan too.

Venezuela is extracting oil since long and the have required expertise Pakistan does not have those so like ME countries we have to work with western or Chinese companies to get access to our hidden wealth.

I am aware of Pakistan's shale reserves. I highly doubt the US companies will be drilling in Pakistan in the near future. Gas is 4 dollars per million BTU in the US and the rest of the world is much higher due to the technology of the US companies, its a big advantage and this is what led to the recent manufacturing boom in the US.

Veneuela's energy infrastructure is in a dire state, only recently the Chinese and the Russian companies started to invest in it.

 

[senheiser]

How Bad Are Things In Venezuela? It's Rationing Food – And Importing Oil | WLRN

Rationing food,running out of toilette paper and importing oild altough they're an oil rich nation just because the dummies can't rafine their own oil after driving the "imperialist pigs" out of the country.Viva el socialismo !

at least they are owning their own Oil

GDP per capita, PPP (current international $) | Data | Graph

 

[C130]

at least they are owning their own Oil

GDP per capita, PPP (current international $) | Data | Graph

they own the oil and can't get it out of the ground
almost all of the revenue PDVSA earns goes into social projects instead of reinvesting into exploring for oil and propping up the Cuba regime and petrocaribe

Venezuelan's can't find basic goods like toilet paper,milk, and flour, but the government blames the Bourgeoisie and capitalists for that.

all the while you can fill your automobiles tank up for less than the cost of a candy bar, but we'll see how long that'll last.

Cheap Gasoline: Why Venezuela Is Doomed To Collapse - Forbes

 

[MastanKhan]

This is same as gas rich Pakistan is going for gas imports through pipe lines and LNG through ships.

Hi,

Because Pakistanis have burnt all that gas by converting motor cycles and rickshaws and cars to burn that gas----. Destroy the industry but enjoy your car / motorcycle ride.