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Originally posted by no1marauderHow is simply wanting to be paid for their work an attempt to run the Venezuelan economy?
"Randomly"?
Perhaps you should read the article; the company has took these assets out of production for a lengthy period apparently to put pressure on the Venezuelan government. Definitely not a smart move; this is a government that doesn't allow foreign companies to run its economy.
President and CEO Hans Helmerich said in a statement on Thursday the company's position has remained clear: "We simply wanted to be paid for work already performed."
"We stated repeatedly we wanted to return to work, just not for free," he said. "We are surprised by yesterday's announcement only because we have been in ongoing efforts in a good faith attempt to accommodate a win-win resolution, including a willingness to sell rigs."
Link: http://www.businessweek.com/ap/financialnews/D9GHRKM80.htm
If Chavez wanted to buy the rigs at their going value, he had the opportunity to do so. Just taking them (or offering enough pennies on the dollar to satisfy Chavez-leg-humpers like you) is cheaper.
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Originally posted by SleepyguyTheir "going rate" isn't decided just by the seller.
How is simply wanting to be paid for their work an attempt to run the Venezuelan economy?
[/i]President and CEO Hans Helmerich said in a statement on Thursday the company's position has remained clear: "We simply wanted to be paid for work already performed."
"We stated repeatedly we wanted to return to work, just not for free," he said. "We are surpr ffering enough pennies on the dollar to satisfy Chavez-leg-humpers like you) is cheaper.
The monetary dispute is not as simple as the company makes it seem in their press releases; apparently they want payments on future royalties and adjustments based on what they think the Venezuelan currency should be valued against the dollar. There were on-going negotiations to resolve these issues but apparently the government thought that one year out of production was enough. There are dispute resolutions available as regards countries who nationalize economic assets and the companies that owned them; if this company is displeased it is free to pursue them. Venezuela under Chavez abides by these decisions AFAIK.
Originally posted by no1marauderChavez: "Work for free."
Their "going rate" isn't decided just by the seller.
The monetary dispute is not as simple as the company makes it seem in their press releases; apparently they want payments on future royalties and adjustments based on what they think the Venezuelan currency should be valued against the dollar. There were on-going negotiations to resolve th ...[text shortened]... displeased it is free to pursue them. Venezuela under Chavez abides by these decisions AFAIK.
Oil co: "No."
Chavez: "I want your property."
Oil Co: "I want $X for it."
Chavez: *Points gun* "Fine, I'll just take it."
No1: "Yay!" *hump, hump, hump*
Originally posted by SleepyguyIf it makes you happy deliberately lying about the issue, so be it. Haliburton and other companies continue to operate in Venezuela without any major problems.
Chavez: "Work for free."
Oil co: "No."
Chavez: "I want your property."
Oil Co: "I want $X for it."
Chavez: *Points gun* "Fine, I'll just take it."
No1: "Yay!" *hump, hump, hump*
Originally posted by no1marauderSo far . . .
Haliburton and other companies continue to operate in Venezuela without any major problems.
Helmerich & Payne is not the only oil services company to have complained about a delay in payments. Dallas-based Ensco International Inc. said last year that it had suspended oil drilling operations off Venezuela's Caribbean coast because Venezuela owed it $35 million -- prompting the state oil company -- PDVSA -- to take over the company's operations.
Keep humpin Chavez' leg buddy. Whatever works for ya. I'm going back to sleep.
Originally posted by SleepyguyDoesn't sound like you ever woke up.
So far . . .
Helmerich & Payne is not the only oil services company to have complained about a delay in payments. Dallas-based Ensco International Inc. said last year that it had suspended oil drilling operations off Venezuela's Caribbean coast because Venezuela owed it $35 million -- prompting the state oil company -- PDVSA -- to take over the compa ...[text shortened]... ons.
Keep humpin Chavez' leg buddy. Whatever works for ya. I'm going back to sleep.
Originally posted by no1marauderit'd be difficult to valuate Venezuelan cement companies because they exist only in Venezuela. no such quandary applies to a mobile offshore drilling rig. they are moved all over the world on a regular basis.
Please; adequate compensation under IL is not synonymous with what the owner would like to get.
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Originally posted by zeeblebotWhat makes you think these are "offshore" rigs anyway? The article doesn't say that.
not oil, oil rigs. mobile offshore drilling platforms.
EDIT: In fact, they appear to be land rigs:
Helmerich & Payne has 210 land rigs in the U.S., 39 international land rigs and nine offshore platform rigs.
Helmerich & Payne has 5% of its land rigs in Venezuela.
http://www.thestreet.com/story/10791174/2/venezuelas-chavez-seizes-helmerich-rigs.html