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Fears over Chavez Threaten Oil Auction
The future of one of the world's biggest oil auctions is in jeopardy as Venezuela's socialist government and oil companies remain at loggerheads over terms to develop a key oil field. Repeated delays in the bidding for rights to exploit the Orinoco Belt reflect investor concerns about political risk, onerous financing costs and the profitability of the projects. Rodolfo Guzman from our Americas Energy Practice shares his perspectives about the Orinoco Belt and what it means for oil companies.
The future of one of the world's biggest oil auctions is in jeopardy as Venezuela's socialist government and oil companies remain at loggerheads over terms to develop a key oil field. Repeated delays in the bidding for rights to exploit the Orinoco Belt reflect investor concerns about political risk, onerous financing costs and the profitability of the projects. Rodolfo Guzman from our Americas Energy Practice shares his perspectives about the Orinoco Belt and what it means for oil companies.
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