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Chavez Chagrined: Will Oil Companies Return to Venezuela?

The bulk of new Venezuelan crude production is a very heavy petroleum, which is high in sulfur and resembles a viscous tar. Conoco and Exxon are the experts in extracting this type of crude, but both were given their marching papers by Chavez and they won't come back unless Venezuela honors prior contracts, which Chavez won't. It would be idiotic for Chevron to get involved in this mess. The national oil companies for Russia and Iran don't have the technology to extract this crude for less than $70/bbl, so they're not much help. Total SA could do it, and they might; never underestimate the French.