Discussion:
Venezuela’s oil production on the brink of collapse — RT Business
(demasiado antiguo para responder)
jat
2017-05-18 17:14:32 UTC
Permalink
Raw Message
The inflation rate, according to the IMF, will balloon to 720 percent
this year. Food shortages have been common for quite some time, but are
deepening and wearing down the population. Three out of four people
surveyed by the WSJ reported involuntary weight loss last year.
Hospitals have completely broken down.

Venezuela has been crippled by protests since late March, with more than
three dozen people having been killed over the past two months, and
there is no sign of improvement. This meltdown is taking a toll on
Venezuela’s oil production, the last thing keeping the country from
becoming a failed state. Venezuela’s oil production has been declining
for more than a decade, mainly because oil revenues are used to finance
the government, leaving little for state-owned PDVSA to reinvest in its
operations.

But things are getting worse. The cash shortage is accelerating the
decline. As of April, oil production stood at 1.956 million barrels per
day (mb/d), down 10 percent from last year, and down more than 17
percent from 2015 levels - and output continues to trend downward. James
Williams, energy economist at WTRG Economics, told Marketwatch in March
that he expects Venezuela to lose another 200,000 to 300,000 bpd this
year, another 10 to 15 percent decline from 1Q2017 levels.

https://www.rt.com/business/388793-venezuelas-oil-production-on-brink/
--
/jat
Knowledge will set you free
El conocimiento te hará libre
PL
2017-05-18 17:32:43 UTC
Permalink
Raw Message
Venezuela's oil production on the brink of collapse
Published time: 18 May, 2017 10:20

Desperation is spreading in Venezuela as violent protests continue to
paralyze the country, further damaging the country's shattered economy.
Venezuela's already-decrepit oil industry is deteriorating by the day,
and an outright implosion is no longer out of the question.

The inflation rate, according to the IMF, will balloon to 720 percent
this year. Food shortages have been common for quite some time, but are
deepening and wearing down the population. Three out of four people
surveyed by the WSJ reported involuntary weight loss last year.
Hospitals have completely broken down.

Venezuela has been crippled by protests since late March, with more than
three dozen people having been killed over the past two months, and
there is no sign of improvement. This meltdown is taking a toll on
Venezuela's oil production, the last thing keeping the country from
becoming a failed state. Venezuela's oil production has been declining
for more than a decade, mainly because oil revenues are used to finance
the government, leaving little for state-owned PDVSA to reinvest in its
operations.

But things are getting worse. The cash shortage is accelerating the
decline. As of April, oil production stood at 1.956 million barrels per
day (mb/d), down 10 percent from last year, and down more than 17
percent from 2015 levels - and output continues to trend downward. James
Williams, energy economist at WTRG Economics, told Marketwatch in March
that he expects Venezuela to lose another 200,000 to 300,000 bpd this
year, another 10 to 15 percent decline from 1Q2017 levels.

The problem is downstream as well, as the shortage of refined products
worsens. Three out of Venezuela's four oil refineries are operating
significantly below capacity because of the inability to find spare
parts for maintenance, according to Reuters. The Paraguana Refining
Center, for example, is only producing 409,000 bpd compared to its
nameplate capacity of 955,000 bpd. PDVSA's third largest refinery, which
has a capacity of 187,000 bpd, is operating "at minimum levels due to
problems at two of its three distillation units," Reuters says.

With cash drying up, PDVSA is also struggling to import lighter fuels
that are necessary to blend with the country's heavy oil. Some ships are
sitting off the Venezuelan coast because of unpaid bills. Meanwhile,
because of obligations to creditors, PDVSA is sending crude abroad,
leaving little for domestic refining.

But PDVSA's financial and operational problems have a compounding
effect. Falling production at refineries mean more gasoline needs to be
imported from abroad, putting a tighter squeeze on state finances, which
in turn leaves even less for everything else the country needs, from
food to healthcare.

The possibility of all hell breaking loose is not zero. The WSJ reports
that Venezuelan security forces are at their breaking point. Young,
underpaid members of the national police are often not given food or
water while on duty, and are asked to constantly beat back rapidly
escalating protests in scorching heat, around the clock. Also, police
and soldiers are not immune to the food shortages and economic collapse
that the rest of the country is suffering through. The loyalty of the
security services to the President no longer appears rock solid.

PDVSA and the national government avoided a debt default a few weeks
ago, but with obligations looming later this year and a dwindling pile
of cash with which to draw upon, the problem is not going away.

As far as the oil sector goes, the best case scenario for Venezuela is
steady, if rapid, decline in production – a loss of 200,000 to 300,000
bpd this year. But the darker scenario is a much more sudden disruption
if the country implodes. There is no way of knowing if this will happen,
but analysts are growing increasingly concerned about the possibility.

"Oil production continues its downward drift due to service provider
cuts, power shortages, inability to obtain imports and irregular salary
payments," Helima Croft, commodities strategist at RBC Capital Markets,
wrote in a recent report. "The oil question is whether current
conditions could set the stage for the type of industrial action that
cut exports by nearly 80 percent in the early 2000s."

This article was originally published on Oilprice.com"

https://www.rt.com/business/388793-venezuelas-oil-production-on-brink/

The "selected excerpt" JAT posted
Post by jat
The inflation rate, according to the IMF, will balloon to 720 percent
this year. Food shortages have been common for quite some time, but are
deepening and wearing down the population. Three out of four people
surveyed by the WSJ reported involuntary weight loss last year.
Hospitals have completely broken down.
Venezuela has been crippled by protests since late March, with more than
three dozen people having been killed over the past two months, and
there is no sign of improvement. This meltdown is taking a toll on
Venezuela’s oil production, the last thing keeping the country from
becoming a failed state. Venezuela’s oil production has been declining
for more than a decade, mainly because oil revenues are used to finance
the government, leaving little for state-owned PDVSA to reinvest in its
operations.
But things are getting worse. The cash shortage is accelerating the
decline. As of April, oil production stood at 1.956 million barrels per
day (mb/d), down 10 percent from last year, and down more than 17
percent from 2015 levels - and output continues to trend downward. James
Williams, energy economist at WTRG Economics, told Marketwatch in March
that he expects Venezuela to lose another 200,000 to 300,000 bpd this
year, another 10 to 15 percent decline from 1Q2017 levels.
https://www.rt.com/business/388793-venezuelas-oil-production-on-brink/
jat
2017-05-19 00:54:56 UTC
Permalink
Raw Message
I don't have to post the whole text. It's not really necessary. If you want to read more just click on the link. - Don't play the fool, asshole.

/jat
Knowledge will set you free
El conocimiento te hará libre
Post by PL
Venezuela's oil production on the brink of collapse
Published time: 18 May, 2017 10:20
Desperation is spreading in Venezuela as violent protests continue to
paralyze the country, further damaging the country's shattered economy.
Venezuela's already-decrepit oil industry is deteriorating by the day,
and an outright implosion is no longer out of the question.
The inflation rate, according to the IMF, will balloon to 720 percent
this year. Food shortages have been common for quite some time, but are
deepening and wearing down the population. Three out of four people
surveyed by the WSJ reported involuntary weight loss last year.
Hospitals have completely broken down.
Venezuela has been crippled by protests since late March, with more than
three dozen people having been killed over the past two months, and
there is no sign of improvement. This meltdown is taking a toll on
Venezuela's oil production, the last thing keeping the country from
becoming a failed state. Venezuela's oil production has been declining
for more than a decade, mainly because oil revenues are used to finance
the government, leaving little for state-owned PDVSA to reinvest in its
operations.
But things are getting worse. The cash shortage is accelerating the
decline. As of April, oil production stood at 1.956 million barrels per
day (mb/d), down 10 percent from last year, and down more than 17
percent from 2015 levels - and output continues to trend downward. James
Williams, energy economist at WTRG Economics, told Marketwatch in March
that he expects Venezuela to lose another 200,000 to 300,000 bpd this
year, another 10 to 15 percent decline from 1Q2017 levels.
The problem is downstream as well, as the shortage of refined products
worsens. Three out of Venezuela's four oil refineries are operating
significantly below capacity because of the inability to find spare
parts for maintenance, according to Reuters. The Paraguana Refining
Center, for example, is only producing 409,000 bpd compared to its
nameplate capacity of 955,000 bpd. PDVSA's third largest refinery, which
has a capacity of 187,000 bpd, is operating "at minimum levels due to
problems at two of its three distillation units," Reuters says.
With cash drying up, PDVSA is also struggling to import lighter fuels
that are necessary to blend with the country's heavy oil. Some ships are
sitting off the Venezuelan coast because of unpaid bills. Meanwhile,
because of obligations to creditors, PDVSA is sending crude abroad,
leaving little for domestic refining.
But PDVSA's financial and operational problems have a compounding
effect. Falling production at refineries mean more gasoline needs to be
imported from abroad, putting a tighter squeeze on state finances, which
in turn leaves even less for everything else the country needs, from
food to healthcare.
The possibility of all hell breaking loose is not zero. The WSJ reports
that Venezuelan security forces are at their breaking point. Young,
underpaid members of the national police are often not given food or
water while on duty, and are asked to constantly beat back rapidly
escalating protests in scorching heat, around the clock. Also, police
and soldiers are not immune to the food shortages and economic collapse
that the rest of the country is suffering through. The loyalty of the
security services to the President no longer appears rock solid.
PDVSA and the national government avoided a debt default a few weeks
ago, but with obligations looming later this year and a dwindling pile
of cash with which to draw upon, the problem is not going away.
As far as the oil sector goes, the best case scenario for Venezuela is
steady, if rapid, decline in production – a loss of 200,000 to 300,000
bpd this year. But the darker scenario is a much more sudden disruption
if the country implodes. There is no way of knowing if this will happen,
but analysts are growing increasingly concerned about the possibility.
"Oil production continues its downward drift due to service provider
cuts, power shortages, inability to obtain imports and irregular salary
payments," Helima Croft, commodities strategist at RBC Capital Markets,
wrote in a recent report. "The oil question is whether current
conditions could set the stage for the type of industrial action that
cut exports by nearly 80 percent in the early 2000s."
This article was originally published on Oilprice.com"
https://www.rt.com/business/388793-venezuelas-oil-production-on-brink/
The "selected excerpt" JAT posted
Post by jat
The inflation rate, according to the IMF, will balloon to 720 percent
this year. Food shortages have been common for quite some time, but are
deepening and wearing down the population. Three out of four people
surveyed by the WSJ reported involuntary weight loss last year.
Hospitals have completely broken down.
Venezuela has been crippled by protests since late March, with more than
three dozen people having been killed over the past two months, and
there is no sign of improvement. This meltdown is taking a toll on
Venezuela’s oil production, the last thing keeping the country from
becoming a failed state. Venezuela’s oil production has been declining
for more than a decade, mainly because oil revenues are used to finance
the government, leaving little for state-owned PDVSA to reinvest in its
operations.
But things are getting worse. The cash shortage is accelerating the
decline. As of April, oil production stood at 1.956 million barrels per
day (mb/d), down 10 percent from last year, and down more than 17
percent from 2015 levels - and output continues to trend downward. James
Williams, energy economist at WTRG Economics, told Marketwatch in March
that he expects Venezuela to lose another 200,000 to 300,000 bpd this
year, another 10 to 15 percent decline from 1Q2017 levels.
https://www.rt.com/business/388793-venezuelas-oil-production-on-brink/
PL
2017-05-19 14:36:43 UTC
Permalink
Raw Message
Post by jat
I don't have to post the whole text. It's not really necessary.
Yes it is, "asshole" (your anal fixation again). Snipping important
parts of a message even when posting a link (often to mislead people
more than to inform them) is a known misleading tactic online.
The reader, misled by the link, thinks he gets full and adequate
information while not.
Just another tactic of cyber liars like you.
Post by jat
Post by PL
Venezuela's oil production on the brink of collapse
Published time: 18 May, 2017 10:20
Desperation is spreading in Venezuela as violent protests continue to
paralyze the country, further damaging the country's shattered economy.
Venezuela's already-decrepit oil industry is deteriorating by the day,
and an outright implosion is no longer out of the question.
Full text:
https://www.rt.com/business/388793-venezuelas-oil-production-on-brink/
jat
2017-05-19 16:17:40 UTC
Permalink
Raw Message
What a dickhead you are !

/jat
Knowledge will set you free
El conocimiento te hará libre
Post by PL
Post by jat
I don't have to post the whole text. It's not really necessary.
Yes it is, "asshole" (your anal fixation again). Snipping important
parts of a message even when posting a link (often to mislead people
more than to inform them) is a known misleading tactic online.
The reader, misled by the link, thinks he gets full and adequate
information while not.
Just another tactic of cyber liars like you.
Post by jat
Post by PL
Venezuela's oil production on the brink of collapse
Published time: 18 May, 2017 10:20
Desperation is spreading in Venezuela as violent protests continue to
paralyze the country, further damaging the country's shattered economy.
Venezuela's already-decrepit oil industry is deteriorating by the day,
and an outright implosion is no longer out of the question.
https://www.rt.com/business/388793-venezuelas-oil-production-on-brink/
PL
2017-05-20 16:05:11 UTC
Permalink
Raw Message
Post by jat
What a dickhead you are !
Insults are what "dickheads" like you are reduced to when they know they
lost the rational argument. Thanks for showing that again to all here.
jat
2017-05-19 20:42:14 UTC
Permalink
Raw Message
I think the one who has certain fixation is you. - "Asshole" is just a
insulting term of address for people who are stupid or ridiculous like
you; truly vulgar, but just that; an insulting term, nothing else. Got
it? You dickhead, bustard, butthead, arse - These are some synonyms to
help you understand better. If not, you need something else to clean
your dirty mind.

/jat
Knowledge will set you free
El conocimiento te hará libre
Post by PL
Post by jat
I don't have to post the whole text. It's not really necessary.
Yes it is, "asshole" (your anal fixation again). Snipping important
parts of a message even when posting a link (often to mislead people
more than to inform them) is a known misleading tactic online.
The reader, misled by the link, thinks he gets full and adequate
information while not.
Just another tactic of cyber liars like you.
Post by jat
Post by PL
Venezuela's oil production on the brink of collapse
Published time: 18 May, 2017 10:20
Desperation is spreading in Venezuela as violent protests continue to
paralyze the country, further damaging the country's shattered economy.
Venezuela's already-decrepit oil industry is deteriorating by the day,
and an outright implosion is no longer out of the question.
https://www.rt.com/business/388793-venezuelas-oil-production-on-brink/
Cubaverdad
2017-05-20 15:28:19 UTC
Permalink
Raw Message
Stop posting stuff 5 or 6 times
jat
2017-05-20 20:35:59 UTC
Permalink
Raw Message
Blame the system...
"If you are an asshole or pretend to be one you're not welcome here"
So, get outa here - You'd better go back to the pigpen you belong to, you nasty, sick man!

/jat
Knowledge will set you free
El conocimiento te hará libre
Post by Cubaverdad
Stop posting stuff 5 or 6 times
PL
2017-05-21 16:33:35 UTC
Permalink
Raw Message
Post by jat
Blame the system...
Blame the idiot that doesn't know how to use the system and / or abuses
it for spam
jat
2017-05-21 23:42:49 UTC
Permalink
Raw Message
It serves you right, bullshitus erectu!
_
/'_/)
,/_ /
/ /
/'_'/' '/'__'7,
/'/ / / /" /_\
('( ' F-... /' ')
\ You' /
'\' _.7'
\ (
\ \
STICK IT UP THE STICKLER!

/jat
Knowledge will set you free
El conocimiento te hará libre
Post by PL
Post by jat
Blame the system...
Blame the idiot that doesn't know how to use the system and / or abuses
it for spam
PL
2017-05-22 11:42:29 UTC
Permalink
Raw Message
Post by jat
It serves you right
(snip)

get a life poor idiot
jat
2017-05-22 13:13:00 UTC
Permalink
Raw Message
The next one could be for your big head, you idiot

ps
Why do you change the subject of my posting?
You don't have the authority to do that

/jat
Knowledge will set you free
El conocimiento te hará libre

http://www.bbc.com/news/world-asia-39990836

North Korea has confirmed it "successfully" launched another
medium-range ballistic missile on Sunday.

The state-run KCNA news agency said the weapon was now ready to be
deployed for military action.

The White House said the missile had a shorter range than those used in
North Korea's last three tests.

It comes a week after North Korea tested what it said was a new type of
rocket capable of carrying a large nuclear warhead.

Last Monday, the UN Security Council again demanded that Pyongyang
conduct no further such tests.

It stressed the importance of North Korea "immediately showing sincere
commitment to denuclearisation through concrete action".

The Council is now scheduled to meet behind closed doors on Tuesday - a
meeting requested by the US, South Korea and Japan.
Post by PL
Post by jat
It serves you right
(snip)
get a life poor idiot
PL
2017-05-22 17:38:00 UTC
Permalink
Raw Message
Post by jat
The next one could be for your big head, you idiot
Threats from a frustrated idiot spammer than insults people instead of
posting relevant and interesting facts.
The title should fit the content. Now it does.

PL
2017-05-20 16:05:07 UTC
Permalink
Raw Message
Post by jat
I think the one who has certain fixation is you. - "Asshole" is just a
insulting term
Thanks for admitting you are an insulting spammer.
The fact that "asshole" is the first insult you think off shows you are
anal retentive.
jat
2017-05-19 20:51:24 UTC
Permalink
Raw Message
I think the one who has certain fixation is you. - "Asshole" is just a
insulting term of address for people who are stupid or ridiculous like
you; truly vulgar, but just that; an insulting term, nothing else *no
fixation for something whatsoever* Got it? You dickhead, bustard,
butthead, arse - These are some synonyms to help you understand better.
If not, you need something else to clean your dirty mind.

/jat
Knowledge will set you free
El conocimiento te hará libre
Post by PL
Post by jat
I don't have to post the whole text. It's not really necessary.
Yes it is, "asshole" (your anal fixation again). Snipping important
parts of a message even when posting a link (often to mislead people
more than to inform them) is a known misleading tactic online.
The reader, misled by the link, thinks he gets full and adequate
information while not.
Just another tactic of cyber liars like you.
Post by jat
Post by PL
Venezuela's oil production on the brink of collapse
Published time: 18 May, 2017 10:20
Desperation is spreading in Venezuela as violent protests continue to
paralyze the country, further damaging the country's shattered economy.
Venezuela's already-decrepit oil industry is deteriorating by the day,
and an outright implosion is no longer out of the question.
https://www.rt.com/business/388793-venezuelas-oil-production-on-brink/
PL
2017-05-20 17:30:27 UTC
Permalink
Raw Message
On 5/19/2017 10:51 PM, jat wrote

Crap and more crap
jat
2017-05-20 20:13:50 UTC
Permalink
Raw Message
So, enjoy since crap is your favorite dish *LAUGHTER*

/jat
Knowledge will set you free
El conocimiento te hará libre
Post by PL
Crap and more crap
PL
2017-05-21 16:38:51 UTC
Permalink
Raw Message
Post by jat
So, enjoy since crap is your favorite dish *LAUGHTER*
As I said about you "banana craving" (ape like) and certainly about your
expressed interest in coprophagia: I have a different taste then you.
I like normal human food.
But if you enjoy producing, eating and regurgitating your own crap, that
is your problem.
Don't vomit it in newsgroups, spammer.
jat
2017-05-21 18:18:52 UTC
Permalink
Raw Message
No matter you say. Every body already knows you're a shit eater... So, enjoy your meal.

/jat
Knowledge will set you free
El conocimiento te hará libre
Post by PL
Post by jat
So, enjoy since crap is your favorite dish *LAUGHTER*
As I said about you "banana craving" (ape like) and certainly about your
expressed interest in coprophagia: I have a different taste then you.
I like normal human food.
But if you enjoy producing, eating and regurgitating your own crap, that
is your problem.
Don't vomit it in newsgroups, spammer.
PL
2017-05-21 18:42:11 UTC
Permalink
Raw Message
Post by jat
No matter you say.
You will stay a guy with a "banana craving" (ape like) and an
expressed interest in coprophagia.
I know . that can't change.
jat
2017-05-21 23:40:32 UTC
Permalink
Raw Message
It serves you right, bullshitus erectu!
_
/'_/)
,/_ /
/ /
/'_'/' '/'__'7,
/'/ / / /" /_\
('( ' F-... /' ')
\ You' /
'\' _.7'
\ (
\ \
STICK IT UP THE STICKLER!


/jat
Knowledge will set you free
El conocimiento te hará libre
Post by PL
Post by jat
No matter you say.
You will stay a guy with a "banana craving" (ape like) and an
expressed interest in coprophagia.
I know . that can't change.
PL
2017-05-22 11:43:20 UTC
Permalink
Raw Message
Keep enjoying your bananas and crap, you idiot.
We don't
jat
2017-05-19 21:00:13 UTC
Permalink
Raw Message
I think the one who has certain fixation is you. - "Asshole" is just a
insulting term of address for people who are stupid or ridiculous like
you; truly vulgar, but just that; an insulting term, nothing else *no
fixation for anything whatsoever* Got it? You dickhead, bustard,
butthead, arse - These are some synonyms to help you understand better.
If not, you need something else to clean your dirty mind.

/jat
Knowledge will set you free
El conocimiento te hará libre
Post by PL
Post by jat
I don't have to post the whole text. It's not really necessary.
Yes it is, "asshole" (your anal fixation again). Snipping important
parts of a message even when posting a link (often to mislead people
more than to inform them) is a known misleading tactic online.
The reader, misled by the link, thinks he gets full and adequate
information while not.
Just another tactic of cyber liars like you.
Post by jat
Post by PL
Venezuela's oil production on the brink of collapse
Published time: 18 May, 2017 10:20
Desperation is spreading in Venezuela as violent protests continue to
paralyze the country, further damaging the country's shattered economy.
Venezuela's already-decrepit oil industry is deteriorating by the day,
and an outright implosion is no longer out of the question.
https://www.rt.com/business/388793-venezuelas-oil-production-on-brink/
PL
2017-05-20 17:30:17 UTC
Permalink
Raw Message
On 5/19/2017 11:00 PM, jat wrote:

the same crap
jat
2017-05-19 21:00:56 UTC
Permalink
Raw Message
I think the one who has certain fixation is you. - "Asshole" is just a
insulting term of address for people who are stupid or ridiculous like
you; truly vulgar, but just that; an insulting term, nothing else *no
fixation whatsoever* Got it? You dickhead, bustard, butthead, arse -
These are some synonyms to help you understand better. If not, you need
something else to clean your dirty mind.

/jat
Knowledge will set you free
El conocimiento te hará libre
Post by PL
Post by jat
I don't have to post the whole text. It's not really necessary.
Yes it is, "asshole" (your anal fixation again). Snipping important
parts of a message even when posting a link (often to mislead people
more than to inform them) is a known misleading tactic online.
The reader, misled by the link, thinks he gets full and adequate
information while not.
Just another tactic of cyber liars like you.
Post by jat
Post by PL
Venezuela's oil production on the brink of collapse
Published time: 18 May, 2017 10:20
Desperation is spreading in Venezuela as violent protests continue to
paralyze the country, further damaging the country's shattered economy.
Venezuela's already-decrepit oil industry is deteriorating by the day,
and an outright implosion is no longer out of the question.
https://www.rt.com/business/388793-venezuelas-oil-production-on-brink/
PL
2017-05-20 17:14:33 UTC
Permalink
Raw Message
On 5/19/2017 11:00 PM, jat wrote:

More crappy identical insulting posts
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