The Amuay refinery in Venezuela, one of the largest in the world, will remain shut for another...


The Amuay refinery in Venezuela, one of the largest in the world, will remain shut for another day or two after being closed because of a massive explosion yesterday that has so far killed 39 people and injured dozens more. Energy Minister Rafael Ramirez says no production units were affected, and nor are are there plans to halt exports, which means that the blast should have little impact on fuel prices.

Comments (9)
  • rjj1960
    , contributor
    Comments (1471) | Send Message
     
    Instead of throwing billions that basically disappeared into New Orleans after Katrina, maybe the country should of built 2 or 3 new refineries?
    26 Aug 2012, 08:07 AM Reply Like
  • chanthirani
    , contributor
    Comments (467) | Send Message
     
    Not up to the country to build the oil refineries. Up to the oil companies.
    26 Aug 2012, 09:34 AM Reply Like
  • Poor Texan
    , contributor
    Comments (3527) | Send Message
     
    Ever try to get a permit?
    26 Aug 2012, 01:22 PM Reply Like
  • Venerability
    , contributor
    Comments (3043) | Send Message
     
    The explosion WILL, however, add to Venezuela's already clear intentions to further open up its Energy sector to foreign investment, a clear break with the past that has been going on the past six months.

     

    Whether it is Senor Chavez's intimations of mortality - and his desire to preserve a vast network of social programs which would be unsustainable without contrinued infusions of cash - or geopolitical pressure stemming from disruptions caused by the various Iran embargoes, Venezuela has been opening up Energy bidding and contracts fairly rapidly recently, while the world was not looking.

     

    There have been recent deals with Chevron, with Pemex, with Petrobras, an important upcoming deal with Pertamina, and about a zillion deals with the Chinese, who now seem to look on Venezuela as a sort of Protectorate.

     

    This was all capped by last week's entry of Venezuela into Mercosur.

     

    Observers should look beyond the strident rhetoric and see what the Chavezistas are actually doing. Of course, if by some miracle, Henrique Capriles wins on October 6th, Venezuela becomes an energy bonanza! I'm not expecting it. But in any case, Venezuela is permitting itself to become a true Energy Power again.
    26 Aug 2012, 12:45 PM Reply Like
  • davidshelton
    , contributor
    Comments (363) | Send Message
     
    After making such a mess of running their own energy sector after nationalising so much, it appears they've caught up with reality and are a bit desperate for income. After the radical actions of the past against foreign companies will things really improve if Chavez is still the top dog?
    26 Aug 2012, 05:15 PM Reply Like
  • chanthirani
    , contributor
    Comments (467) | Send Message
     
    I was under the impression that Chavez had cancer.
    26 Aug 2012, 09:09 PM Reply Like
  • Venerability
    , contributor
    Comments (3043) | Send Message
     
    David,

     

    I think so. He seems desperate to perpetuate a legacy, which means the country needs both cash and capital investment. Joining Mercosur is a dramatic step.
    26 Aug 2012, 11:25 PM Reply Like
  • User 353732
    , contributor
    Comments (5158) | Send Message
     
    Venezuela has lost a great deal of energy engineering and management talent over the past 5 years. Despite its vast physical oil resources and the eagerness of the Chinese to develop them, Venezuela is now suffering from the choke point of talent flight and its consequences are evident in poor or incompetent operations, especially of such sensitive complexes as refineries
    27 Aug 2012, 05:36 AM Reply Like
  • Ultrabase
    , contributor
    Comments (153) | Send Message
     
    This story makes no sense. They blew up the refinery, killed 39 people, and injured dozens, yet production is not affected? Yeah, right.

     

    By all accounts, the Chavez administration has been treating the state oil company as a source of patronage jobs for a long time now. This accident is the result of putting untrained and incompetent people in key positions.
    27 Aug 2012, 01:56 PM Reply Like
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