LatAmNRG: Heard on the Street 3Q:15

Instant Max AI

(Energy Analytics Institute, 30.Sep.2015) – Information in this section, provided by Energy Analytics Institute editors and reporters, is hearsay and thus should be treated as such. The names of our many sources have been withheld to protect their identities and family members in Venezuela.

REGARDING VENEZUELA

* China could ask for Sidor in Venezuela; China interested in steel industry; most of energy for Sidor is hydroelectric.

* Venezuela cannot default because that would affect its credit lines; in default a lot of export dollars would have to go to importing food and other essential products.

* Furial production declines in Venezuela continue and are ‘very worrisome.’

* PDVSA hearing related to PDVSA official Parada was stopped because he said we would spill the beans on everybody. ‘If I go down so will everyone else.’

* A default in Venezuela would verify what everyone is already suspecting, that the Venezuelan officials are incompetent since the country has the largest reserves in the world but is still going bankrupt. “People don’t like to lend money to incompetent people.”

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