PDVSA signs $430 mil deal with seven companies in effort to boost crude production

7 hours ago, Tom Kirkman said:

But will the 7 companies actually get paid?  How on earth can any company trust to do business these days with PDVSA?  I'm not trying to be snarky here.  How do these 7 companies expect to be paid by PDVSA?

PDVSA signs $430 mil deal with seven companies in effort to boost crude production

I think this is crazy. I doubt that anybody is eager to do business with pdvsa or Venezuela in general. It was not that long ago that Venezuela reclaimed many foreign oil companies' projects and nationalized it for its own use. for Pete's sake, lawsuits are still on going as oil companies try to get compensation for Venezuela stealing their projects. the only thing I can think of here is that the companies looking to do business with pdvsa are those with nothing to lose, those that are already into Venezuela or into pdvsa for money.

throwing good money after bad.

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