My concern is geo-political. Chavez and Bush clearly aren't buddies, in fact they regularly butt heads. I get the feeling Chavez is trying to grease his palms with a new axis as a foil to the US. China, South Africa, and a few other African and Latin American Hoodlum States. I'm not sure about you, but I'd hate to be caught in a sparring match between the US and China - and its coming. Why is Chavez whose country is almost as far away from us as you could get, interested in SA? And I smell corruption charges similar to the arms deal 6 months from now.
According to BusinessDay: [Chavez] said Venezuela was interested in using SA’s oil storage capacity of about 45-million barrels and helping to expand its refining capacity. His country was also co-operating with many Latin American and Caribbean countries to build oil-refinery capacity to reduce dependence on the west.
According to BusinessDay: [Chavez] said Venezuela was interested in using SA’s oil storage capacity of about 45-million barrels and helping to expand its refining capacity. His country was also co-operating with many Latin American and Caribbean countries to build oil-refinery capacity to reduce dependence on the west.
“We’re also interested in the exploration of some of the mature fields that were deemed expensive to drill and abandoned. But with the (availability of) new technology and equipment for an accurate assessment of these fields, we believe that the demand in the market is conducive to make the business economically viable," Mkhize said. He said PetroSA would send a team of experts and they should have a report on the viability of the adventure ready in six to 18 months. PetroSA also planned to explore new fields in Venezuela, but this would probably take seven to 10 ten years to determine whether an investment was worth it. “It will be a wonderful day when the first Venezuelan tanker will stop by to leave oil for SA," Chavez said.
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