Juan Guaido Seeks to Sell Out Venezuela’s Oil Industry – Report

[PJL]

Well Venezuela can't get its own oil- they need help from somewhere.

...is that why the US has imposed sanctions to prevent them selling it ?

[Peter1469]

...is that why the US has imposed sanctions to prevent them selling it ?

I am not talking about selling it. I am talking about drilling. They don't have the know-how to maintain their rigs, build modern rigs, or use modern techniques to get the most oil from the fields as possible.

[PJL]

I am not talking about selling it. I am talking about drilling. They don't have the know-how to maintain their rigs, build modern rigs, or use modern techniques to get the most oil from the fields as possible.

They seem to go OK........"Venezuela is one of the world's largest exporters of oil and has the world's largest proven oil reserves at an estimated 296.5 billion barrels (20% of global reserves) as of 2012. In 2008, crude oil production in Venezuela was the tenth-highest in the world at 2,394,020 barrels per day (380,619 m3/d) and the country was also the eighth-largest net oil exporter in the world. Venezuela is a founding member of the Organization of the Petroleum Exporting Countries (OPEC).[6] "

[countryboy]

They seem to go OK........"Venezuela is one of the world's largest exporters of oil and has the world's largest proven oil reserves at an estimated 296.5 billion barrels (20% of global reserves) as of 2012. In 2008, crude oil production in Venezuela was the tenth-highest in the world at 2,394,020 barrels per day (380,619 m3/d) and the country was also the eighth-largest net oil exporter in the world. Venezuela is a founding member of the Organization of the Petroleum Exporting Countries (OPEC).[6] "

That was in 2008. What was their production in 2018? Less than half of what it was in 2008.

https://www.bloomberg.com/graphics/2018-venezuela-oil/

[Peter1469]

That was in 2008. What was their production in 2018? Less than half of what it was in 2008.

https://www.bloomberg.com/graphics/2018-venezuela-oil/

You beat me to it.

[countryboy]

You beat me to it.

Socialism ROCKS!