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Old 19th May 2016, 01:50
  #26 (permalink)  
Join Date: Jan 2009
Location: us
Posts: 93
I'm sure Venezuela's Russian friends will soon be along to assist. After all, their great friend Chavez bought 100,000 Kalshnikovs and 24 x Sukhoi-30 jets off the Russians, so I'm sure they'll be willing to help out their friends in militarism, when they're in a spot of economic bother .... won't they?? Won't they?????

Yes they are. They also purchased a 50% stake in one of the major oil plays.
China bought a large percentage of another play.
Venezuela just does not have the resources as in US$ to buy the equipment to produce the fields.
Russian is also the source from my recollection of the oil import for Venezuela to refine petroleum products for domestic consumption that was eluded to up post.

You just have to consider that even as oil prices increase, Venezuela has taken a major hit on oil revenues as Russia and China get there percentage of oil/monies first from the production in those plays.

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