Brazilian companies free of nationalization spree, promises Chavez

Wednesday, May 27th 2009 - 12:05 UTC

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Venezuelan president Hugo Chavez told his Brazilian peer Lula da Silva that Brazilian corporations are safe from the current nationalization process in his oil-rich country. The two presidents met on Tuesday in Bahia to discuss Mercosur, energy, finances and regional integration. Read full article

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Bubba
“Presidents Luiz Inacio Lula da Silva of Brazil and Hugo Chávez of Venezuela expressed confidence on Tuesday that the obstacles holding up major deals between their respective state oil companies will be resolved within the next three months.” When Braspetro replaced the PDVSA management Venezuela could export 2,203,000 barrels per day. One year later, 1,900,000 per day. If I were Chavez I too would want some rebates, even if it is stealing investments made in good faith and by invitation.
May 30th, 2009 - 12:48 pm - Link - Report abuse 0
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