Jason75,
The Chinese have Venezuela for its crude, they lent money on payment terms of oil deliveries and Venezuela defaulted. Being dependent on China is risky business due to conditions on loans etc, any national oil company needs to maintain output and unfortunately not many South American countries have good in house oil and gas expertise.
I would personally prefer a European major to buy into the JV with deep pockets and willingness to spend on development. It would be better to avoid depending on Cupet for payments etc or expenditure on infrastructure given their balance sheet position. Marketing and selling crude internationally to bring in capital from overseas would be essential to fund further exploration/development to improve local needs.
Ann: S&P DJI Announces March 2023 Quarterly Rebalance, page-89
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3.3¢ |
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Mkt cap ! $111.2M | |||
| Open | High | Low | Value | Volume |
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| No. | Vol. | Price($) |
|---|---|---|
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|---|---|---|
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