Power outage knocks out Venezuelan refinery complex, one of the world’s largest

Friday, May 13th 2011 - 05:15 UTC

Full article 2 comments

A power fault hit Venezuela's main refinery centre on Thursday, stopping the 310,000 barrel-per-day Cardon facility and partially halting the 645,000-bpd Amuay installation, a source at state oil company PDVSA said. Read full article

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GeoffWard
These accidental breakdowns could happen to anybody.

If a country cannot or does not maintain and constantly upgrade its systems and networks it will continue to happen.

If the USA depends disproportionately on Venezuelan oil, then it should, perhaps, invest in the country's electricity supply network. This could be offset by modifying the purchase agreement for the oil.

Alternatively, Chavez could get the Chinese, Germans, Japanese, Indians, Brits, etc. in to sort them out.
May 13th, 2011 - 11:54 am - Link - Report abuse 0
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ManRod
Well, lets say... I think most investors would consider their money in Lybia (!) more secure than Venezuela.
Chavez has done a great work to make sure nobody trust in Venezuelan economy due to legal reasons.
May 13th, 2011 - 01:07 pm - Link - Report abuse 0
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