Just in time for Valentine’s Day, Hugo Chavez, President of Venezuela, has changed his mind. He loves big oil companies after all. The history of Big Oil and Hugo Chavez reads like one of those dysfunctional relationships most of us have at least briefly been involved in: he or she only loves you when they […]
Russian oil companies, including Gazprom and Lukoil, will pay $1 billion to Venezuela for the chance to develop oil reserves along the Orinoco. Even though Caracas and Moscow are allies, I still have doubts about the final payout for these businesses. In 2006 the Venezuelan government pushed out some foreign oil companies, and forced others […]