Oil rich Venezuela imports...Oil

[jerry_tan]

Do you think Russia will follow Venezuela?

 

[C130]

Do you think Russia will follow Venezuela?

lol, no

Russians have Putin a Grand Chessmaster at politics.

While Venezuelans got a bus driver turned politician lol

 

[Thunderstruck]

This is same as gas rich Pakistan is going for gas imports through pipe lines and LNG through ships.

Alas, our security situation makes it very difficult for the companies to explore. In my limited 5 years experience I have worked in oil industry in Punjab, Sindh and KPK. Though I havent worked in Baluchistan but through my colleagues I have come to know it can be as Oman is to the world in oil production(not Saudi Arabia or Venezuela etc, they are super blessed). Sui is depleting and there isnt exploration to a level it is supposed to be(how can it be when rockets are fired at multi million dollars installations). Punjab although not explored immensely is generally acknowledged to be not that rich (there are blocks that are good producing fields but not huge fields to support th e masses) .

Besides Sui, Sindh has been the one feeding energy to all of Pakistan consistently through major and minor discoveries. though there are cases when wadera's ask for 500 million from multinational oil companies to allow them to work otherwise the rigs will be fired at(it's happened and was settled through an unknown amount)

In KPK, FATA and surrounding areas kohat, karak are super rich. Though there is work going on in Kohat and Karak and not every well is a discovery but the quality and pressure of gas you get in those area is unmatched in Pakistan. But the damn security situation/ law and order is show halter.

I remember one of the company man of our state owned company(highest rank/position at well site) got kidnapped on way back home and was released i think after around a year, and that too only when his family paid half of the ransom and half was paid by the employees of the company from their salaries. A hungarian(one of the best persons i have come across in oil industry, technically and personally) was picked by the locals when they were demanding something from govt. From what i have heard the local MNA was also part of the locals. While there he wasn't suppressed at all rather given a comfortable environment and was told he is their guest, its just the govt will not listen to them unless they do something out of the way to get noticed.That poor guy told them if iam your guest then let me free but he was released after a week or so(it was pure kidnapping and govt couldnt force the writ on locals). In personal experience while working there, once, I was supposed to go home the next day after a 14 days hitch but at sehri time there was firing and i came to know through guards that there was cross firing between FC and "miscreants". And i wished i am never told to go to that field again.
(Some of the examples from my time in industry)

We are not perfect, despite our mismanagements(red tape, supply chain, technology,tenders, contracts not folowing SOP etc) there has been work going on in sindh for decades. BUT when it comes to security then its a big no or period of no investment. If we are going for LNG route despite being rich in hydrocarbons( which i dont believe strongly until its classified as proven, its one thing to have have proven reserves and another thing to have unproven reserves, proven and unproven reserves are like JF-17 vs LC Tejas, one is combat ready and the other is being tested), it would be due to the mismanagement plus the state of law that discouraging the growth in energy sector.

Basel, you are right, though not super rich in hydrocarbons we are going for something which can found at our home but ATM we lack the power/strength to do so.

 

[Thunderstruck]

Hi,

Because Pakistanis have burnt all that gas by converting motor cycles and rickshaws and cars to burn that gas----. Destroy the industry but enjoy your car / motorcycle ride.

Exactly, you give natural gas to fertilizer sector to feed our AGRICULTURE BASED ECONOMY with urea and DAP and let not hike the prices for poor farmers and let not create commisions to ponder how and where from import fertilizer, generate electricity, support industries, i dont even support that gas being used in homes(its worth more than that). One good thing i observed in middle east was despite being exporter they dont abuse natural gas rather use LPG in cylinders for homes. But guess what,we proudly announce that we are the largest consumer of natural gas in transport industry and it saves our environment as well( so if that gas was used in industries, wouldn't it not pollute as well)

 

[Thunderstruck]

Extracting shale is a whole another ball game, its not feasible at the moment. In time the tech would get more feasible and the western companies will be bidding for the blocks. Venezuela has kicked the western companies out and their infrastructure is falling apart.

shale or unconventional hydrocarbons technology is here, though costly but for that the oil prices have to be above $75/bl. unconventional gas doesn't have the profit margin that liquids enjoy. That's why the big companies are more interested in oil and are selling their gas producing blocks. What Venezuela did was utterly wrong. Why the companies in middle east have JV's in their producing blocks, beacuse most of these JV are western companies and they have the technology or experience with the technology that could extract oil efficiently. They want to own it 100% and do so where they can, but allow other companies where they are required to benefit from their experiences(though there are political reasons as well in some cases).

Venezuela did wrong here. You never let technology go away or force it out when it wants to use your resources and will let you use their technology. Look at Russia despite being sanctioned did she throw them out. No and they know these companies have something which they need it.