Conoco Could Keep A Foothold In Venezuela

[Judi Lynn]

Source: Forbes

Conoco Could Keep A Foothold In Venezuela
Vidya Ram, 06.29.07, 10:45 AM ET

LONDON - ConocoPhilips may have had to pull out of Venezuela, but it could still keep its foot in the country. Venezualan President Hugo Chavez is in talks with Russian Lukoil, which ConocoPhilips has stakes in, to develop projects in the country.

A spokesman for LukOil (other-otc: LUKOY - news - people )confirmed a meeting took place Wednesday between Chavez, who is currently on a visit to Russia, and the oil company’s president and founder, Vagit Alekperov. The spokesman didn't offer any detail except that the company was in discussions about two potential projects; the first to develop heavy oil fields in the Orinoco river basin, and the second to rehabilitate already existing oil fields. He stressed that nothing was confirmed but that if everything worked out as planned, Lukoil’s venture could begin by the end of the year.

If the venture goes ahead it would be the first time a Russian energy company sets foot in South America.

The news comes just a week after ConocoPhilips (nyse: COP - news - people ) and Exxon Mobil (nyse: XOM - news - people )announced it was pulling out of Venezuela on the grounds that the government was attempting to impose tougher terms on their contract for pumping oil in the country’s Orinoco River basin.



Read more: http://www.forbes.com/markets/2007/06/29/lukoil-gazprom-venezuala-markets-equity-cx_vr_0629markets05.html

[Warren Stupidity]

1. "ConocoPhilips may have had to pull out of Venezuela"?

Bullshit. Nobody forced Exxon and Conoco to pull out of Venezuela. They volunteered to take a hike.

[Judi Lynn]

2. Leftover RCTV "bidness" for interested Venezuela-conscious DU'ers:

Fox News and Venezuela
by SCOTT LIEBERTZ

An Analysis of How the Network Has Deliberately Misinformed Its Viewers


Thousands of Venezuelan students have been in the streets of major cities protesting the Chavez governments' actions against RCTV, the country's oldest and most popular TV station, and what they perceive to be an assault on freedom of speech in general. Perhaps ironically FOX News should be applauded for giving so much coverage to Venezuela - not necessarily a "popular" story. But unfortunately the highest-rated network so thoroughly butchered the truth, that it is not surprising that many Chavez supporters are becoming conspiracy theorists vis-à-vis the US media. In segment after segment, FOX News anchors, along with its main correspondent Adam Housley, told falsehood after falsehood. The issue here has nothing to do with condemning or supporting Hugo Chavez, nor his actions regarding RCTV . This is about how FOX News spread demonstrably false information on several occasions over the course of a week. The manipulation of fact was so extreme, that one has to wonder if it was deliberate.

FOX News viewers, who are not ordinarily connected to Venezuelan news, would likely believe that there is no longer any "opposition" media in that country - or at the most, perhaps one "small cable network" called Globovision. They would think this because FOX's correspondent in Caracas told them this falsehood over and over again. On May 28th, during "Your World" with host David Asman, Adam Housley said that Chavez was "taking over just about every in Venezuela" and added that RCTV was just "the latest." In fact, RCTV is the only media outlet that can arguably said to have been "taken over." The other stations - Televen, Venevision, and Globovision - continue to be privately owned and broadcast opposition voices (though the first two regularly balance them with government spokesmen as well). But this reality didn't stop Housley from saying on the next day's program that RCTV was "the last private and large television station here in the country thatwas critical of the Chavez administration." If Housely would have just turned on the other stations in the morning (or Globovision at any time of the day) he would have seen opposition members criticizing the Chavez administration. Housley went on to repeat this false characterization of the Venezuelan media landscape on Neil Cavuto's show as well as "Hannity and Colmes."

Perhaps Housely will protest that the other private stations don't qualify as "large" or "national." While it is true that RCTV had the best frequency reach of all of them, only an obsessively literal-minded lawyer could claim that Venevision and Televen are not "national stations." In fact, according to figures published in the opposition daily El Nacional, the two stations account for a 30-35% share of the Venezuelan audience. Globovision, the 24-hour station that can nearly be described as "all opposition - all of the time" was described by Housely on "Hannity and Colmes" as a "small cable network" that only reaches "a few" places in the country. Perhaps by "few," Housley meant the three largest cities and surrounding areas where a significant percentage of Venezuelans live <1>. Furthermore, Globovision has agreements with several smaller market stations that carry its programs. Add to this the fact that Globovision is not just a cable station, but is carried on public airwaves and one has to conclude that it is essentially a "national" station as well. <2>

In a very frustrating exchange on the June 1st broadcast of "Your World" with Neil Cavuto, Charles Barron, a councilman from New York City tried to explain some of these facts, but was rudely told by Housley that he was "full of baloney." After being introduced by Cavuto as "someone who is right there," - thus giving the correspondent undeserved credibility - Housley addressed Barron's contentions: " says that there are three private television stations in this country that currently operate. He is absolutely wrong." Well, Barron was absolutely right, and it only takes about thirty seconds of internet research to confirm this (go to www.globovision.com, www.televen.com, and www.venevision.net). Housley then went on to say that Chavez "has shut down the media all across the country." He didn't give any specific examples, probably because to my knowledge, there aren't any.

More:
http://www.just-international.org/article.cfm?newsid=20002340

[unkachuck]

3. "If....

....the venture goes ahead it would be the first time a Russian energy company sets foot in South America."

....welcome to bush-world; you are about to see many new and strange things unfold....

....with the 2 trillon dollar illegal war-debacle ongoing and our once great military now being rapidly depleted, the neocons said,'...boo!' to the world and the world just laughed....