Venezuela, along with Lebanon, is one of only two countries currently experiencing hyperinflation. How could this be? At The depletion rate — the rate at which oil companies are depleting their proven reserves — provides the key to understanding the economics of an oil company and the value of its reserves.
In , it sat at 0. This has noteworthy economic implications. In addition, members of the ruling socialist party - which recently gained control of the National Assembly in a disputed vote - have pledged to reform laws to allow greater private participation in the oil industry. That would restore production to levels after it slumped to just , barrels per day bpd in November. The drop has exacerbated a humanitarian crisis in which some 5 million people have emigrated.
While details of the proposed arrangements were not available, two of the people said they differed from the "joint services agreements" signed with a handful of little-known companies in , allowing them to take charge of financing and equipment procurement. However, none of this can happen until the US Treasury Department lifts its ban over the sale and transfer of Citgo and its shares.
Ultimately, if Rosneft or any other creditor were to gain control over Citgo, Venezuela would be losing ownership of its most important asset abroad. Please contact us for subscription options. Paris Peace Forum draws leaders for global solutions. Tensions mount between Belarus, West over migrant crisis on Polish border.
0コメント