Senators Warn Mnuchin of National Security Implications of Russia CITGO Takeover

[endicom]

PJ Media
Bridget Johnson
Apr. 11, 2017

WASHINGTON -- Senators are alarmed about the national security implications of Russia acquiring a significant ownership share in an oil company whose terminals span 20 states across the nation.

In a letter to Treasury Secretary Steve Mnuchin, who is chairman of the inter-agency Committee on Foreign Investment in the United States, Sens. Bob Menendez (D-N.J.), Marco Rubio (R-Fla.), John Cornyn (R-Texas), Dick Durbin (D-Ill.), Bill Cassidy (R-La.) and Ted Cruz (R-Texas) say he needs to be prepared to protect U.S. energy infrastructure should Rosneft carry through with seizing control of CITGO Petroleum Corporation’s Venezuelan parent company, state-owned Petroleos de Venezuela S.A.

More... https://pjmedia.com/news-and-politics/2017/04/11/senators-warn-mnuchin-of-national-security-implications-of-russia-citgo-takeover/

[Frank Cannon]

They are worried about the Soviets, but the Venezuelans were just fine?

[endicom]

They are worried about the Soviets, but the Venezuelans were just fine?

The Venezuelans had to worry about being the next Grenada.

[geronl]

The Venezuelans had to worry about being the next Grenada.

Nah, Venezuelans are more worried about the next granola bar.

[catfish1957]

Venezuela owes ExxonMobil a $1.6B settlement for their little nationalization stunt. 

Russia may find out that this tin cup outfit  owes more than its worth. 

Secondly, though their reserves are vast, their crude is so sour that only a few select refineries have the ability to process it.  Thus the profitable breakpoint is way up there on $/bbl basis.  Another reason while this cesspool of nation is drowning in its own riches.

[endicom]

Venezuela owes ExxonMobil a $1.6B settlement for their little nationalization stunt. 

Russia may find out that this tin cup outfit  owes more than its worth. 

Secondly, though their reserves are vast, their crude is so sour that only a few select refineries have the ability to process it.  Thus the profitable breakpoint is way up there on $/bbl basis.  Another reason while this cesspool of nation is drowning in its own riches.

Tillerson moved next door to Guyana where they'd discovered high quality crude: https://www.washingtonpost.com/news/worldviews/wp/2017/01/16/rex-tillerson-got-burned-in-venezuela-then-he-got-revenge/

[IsailedawayfromFR]

Venezuela owes ExxonMobil a $1.6B settlement for their little nationalization stunt. 

Russia may find out that this tin cup outfit  owes more than its worth. 

Secondly, though their reserves are vast, their crude is so sour that only a few select refineries have the ability to process it.  Thus the profitable breakpoint is way up there on $/bbl basis.  Another reason while this cesspool of nation is drowning in its own riches.

Russia would not do it for the economics.

As far as reserves, Venezuela's assets are of poor quality but as to resource size there is no equal.  That is a very long term play, once again, not driven by economics.

[IsailedawayfromFR]

Where has Congress been since Venezuela got 100% of a US company 27 years ago anyway?