ConocoPhillips Appears Ready To Take Control Of Venezuelan Oil Sector Assets To Enforce $2 Billioin Arbitration Award -- May 7, 2018

From SeekingAlpha:

• ConocoPhillips has moved to take Caribbean assets of Venezuela’s PDVSA oil company to enforce a $2B arbitration award, actions that could further harm PDVSA's declining oil production and exports
• COP has targeted facilities on the islands of Curacao, Bonaire and St. Eustatius that accounted for ~25% of Venezuela’s oil exports last year and play key roles in processing, storing and blending PDVSA’s oil for export
• COP’s actions could further impair PDVSA’s declining oil revenue and Venezuela's collapsing economy; the country is almost completely dependent on oil exports, which have fallen by a third since its peak and its refineries ran at just 31% of capacity in Q1

See post, May 5, 2018, just two days ago.

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Global Warming? What Global Warming?

June 1, 2018, we start the "new" global warming tag.