Right under the radar, Venezuela is
getting dumped by its two sugar daddies, Russia's state-linked Rosneft energy
giant, and China's state-linked PetroChina. Bye-bye money, because this is a
big blow. The pair of them were slated to run two of the three of Venezuela's
monster-big refineries in the Paraguana complex, Amuay and Cardon, two
refineries that were the crown jewel of Venezuela's global oil presence. Back
in the 1990s, these were the most advanced and best-run refineries in the
world. Today, they have fallen into such a state of shambles even the Russkis
and Chicoms won't touch them. According to a report from Kallish Energy, the
repair costs of the Chavista-managed socialist-run rubble is $10 billion with a
'b.' More…
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