Houston Chronicle: Citgo’s new CEO confident in an uncertain time

Russ Dallen, a political and legal analyst, said one of Jorda’s biggest tasks will be rebuild the image of the company that has been under the under the control of Maduro and his mentor, the late socialist President Hugo Chavez, for 20 years.

“He has to restore trust in a beloved American institution,” Dallen said. “Twenty years of rule by the anti-American regime in Caracas has made a serious dent in the historically sentimental American good will.”

https://www.houstonchronicle.com/business/article/Citgo-s-new-CEO-confident-in-an-uncertain-time-14374775.php

Bloomberg: Half of Venezuela’s Oil Rigs May Disappear If U.S. Waivers Lapse

Almost half the rigs operating in Venezuela will shut down by Oct. 25 if the Trump administration doesn’t extend a 90-day waiver from its sanctions, according to data compiled from consultancy Caracas Capital Markets. That could further cripple the OPEC member’s production because the structures are needed to drill new wells crucial for even maintaining output, which is already near the lowest level since the 1940s.

“Almost half the rigs are being run by the Yanks, and if the window shuts down on this in two months, then that’s really going to hurt Venezuela unless the Russians and the Chinese come in,” said Russ Dallen, a Miami-based managing partner at Caracas Capital Markets.

https://www.bloomberg.com/news/articles/2019-08-22/trump-takes-aim-at-oil-rigs-crucial-to-venezuela-s-energy-future

Bloomberg: Plataformas venezolanas cerrarían si EE.UU. no extiende exención

“Casi la mitad de las plataformas están a cargo de los yanquis, y si la ventana se cierra en dos meses, eso realmente perjudicará a Venezuela a menos que entren los rusos y los chinos”, dijo Russ Dallen, socio gerente de Caracas Capital Markets con sede en Miami.

https://www.bloomberg.com/latam/blog/plataformas-venezolanas-cerrarian-si-ee-uu-no-extiende-exencion/

Metade das plataformas petrolíferas da Venezuela podem encerrar atividades

“Quase metade das plataformas estão sendo operadas pelos Yanks, e se a janela parar com isso em dois meses, isso vai realmente prejudicar a Venezuela, a menos que os russos e os chineses entrem”, disse Russ Dallen, gerente de Miami. sócio da Caracas Capital Markets.

Houston Chronicle: U.S. court sides with Venezuela’s opposition in battle over Citgo’s leadership

“It’s pretty solid law. The executive branch chooses who it recognized as the legitimate government and courts don’t enter into the realm of foreign policy,” said Russ Dallen, legal and financial analysts with Caracas Capital Markets, a New York-based research analysis firm focused on Venezuelan capital markets.

https://www.chron.com/business/energy/article/U-S-court-sides-with-Venezuela-s-opposition-in-14282603.php

Financial Times: Donald Trump slaps broad new sanctions on Venezuelan government

The executive order “makes Venezuela radioactive, anyone in contact with Venezuela radioactive, and anyone in contact with those people radioactive,” said Russ Dallen, head of investment bank Caracas Capital Markets.

https://www.ft.com/content/eaec1558-b7ef-11e9-96bd-8e884d3ea203

Wall Street Journal: Venezuela Embargo Puts Citgo Bond Payment at Risk

The Treasury Department could still issue a license that would open up Citgo to seizure once again, said Russ Dallen, head of investment bank Caracas Capital Markets.

https://www.wsj.com/articles/venezuela-embargo-puts-citgo-bond-payment-at-risk-11565130931

El Nuevo Herald: El ‘bloqueo total’ de Trump apunta a los ‘boliburgueses’ de Maduro, Rosneft y PetroChina

“Lo que están buscando es poder ir contra China, Turquía o Cuba, o cualquier otra nación que ayude a Venezuela a hacer operaciones comerciales. Si estás comprando su petróleo, pasas ahora a estar en la lista de los más buscados”, advirtió Russ Dallen, presidente de la firma Caracas Capital Markets, con sede en Miami.

***

“Toda persona vinculada con Maduro se convierte ahora en radioactiva. Y cualquier cosa que ellos toquen pasa a ser radioactivo”, agregó Dallen.

Incluso aquellas personas que no realizan negocios directamente con el régimen, pero sí con quienes lo hacen. Este segundo grupo de personas entra en la zona de riesgo, agregó.

El decreto lleva las sanciones a un terreno extraterritorial, extendiendo la prohibición de hacer negocios con el régimen fuera de Estados Unidos. De manera que si una empresa extranjera, ya sea Rosneft o Petrochina, tiene una cuenta bancaria en Estados Unidos, esos activos hoy pueden ser confiscados. “Esto ya no solo afecta a los estadounidenses”, enfatizó Dallen.

https://www.elnuevoherald.com/noticias/mundo/america-latina/venezuela-es/article233569077.html

Experten befürchten neue Fluchtbewegung

„Was sie versuchen, ist, gegen China, die Türkei oder Kuba oder jede andere Nation vorzugehen, die Venezuela helfen, Geschäfte abzuwickeln“, sagte Wirtschaftsexperte Russ Dallen von Caracas Capital Markets in Miami der Tageszeitung „El nuevo Heraldo.“

https://www.welt.de/politik/ausland/article198124619/Venezuela-Experten-befuerchten-neue-Fluchtbewegung.html

VS bevriest bezittingen van Venezuela

Het nieuwe decreet van de VS is voor een belangrijk deel een middel om juist de bondgenoten van Maduro te straffen, licht Russ Dallen toe, hoofd van de Amerikaanse tak van bemiddelaar Caracas Capital Markets. Tegen persbureau AP zei hij: “Als deze landen handel met Maduro blijven voeren, riskeren zij dat de VS hun bezittingen confisqueert.”

https://www.parool.nl/wereld/vs-bevriest-bezittingen-van-venezuela~b55727c3/?referer=https%3A%2F%2Fwww.google.com%2F

El Universal: Corte dio prórroga en caso Citgo para mostrar alegatos

Según la declaración del director de la firma Caracas Capital, Russ Dallen, el lapso para apelar se extenderá hasta el próximo 26 de septiembre.

http://www.eluniversal.com/economia/47122/corte-dio-prorroga-en-caso-citgo-para-mostrar-alegatos

Bocaranda: Conceden 45 días de prórroga a Pdvsa para apelar decisión que favorece a Crystallex

El director gerente de la firma Caracas Capital, Russ Dallen, habría informado que la Corte de Apelaciones del Tercer Circuito de Estados Unidos concedió 45 días de prórroga a Pdvsa para llenar la apelación por caso Crystallex.

Bloomberg: Chevron Is Playing a Long Game in Venezuela’s Oil Fields

The Orinoco projects were the most expensive to set up in Venezuela because they include industrial plants known as upgraders that convert sludgy oil into a product foreign refiners can process. Those cost $3.8 billion at PetroPiar. Chevron was investing about $700 million a year in the country even after Chávez’s nationalization, Moshiri said in 2014. It “built those upgraders in the middle of the jungle,” says Russ Dallen, managing partner at brokerage Caracas Capital Markets. “How do you explain walking away from that?”

***

This news may be bad for the future of Venezuela’s public finances, but it puts Chevron in a privileged position. Although many rivals may avoid Venezuela because of its difficult operating environment and low-quality crude, Chevron already has more than $1 billion worth of complex infrastructure in place to deal with both. “The ideal outcome is to still have the property when the regime ends,” says Dallen of Caracas Capital Markets. “I think their goal is to outlast Maduro.”

https://www.bloomberg.com/news/articles/2019-07-09/chevron-is-playing-a-long-game-in-venezuela-s-oil-fields

Chevron está jugando un “juego largo” en campos petroleros de Venezuela

“Construyó a esos mejoradores en medio de la jungla”, dice Russ Dallen, socio gerente de la corredora Caracas Capital Markets. “¿Cómo explicas alejarte de eso?”


***

“El resultado ideal es tener la propiedad aún cuando finalice el régimen”, dice Dallen, de Caracas Capital Markets. “Creo que su objetivo es superar a Maduro”.

https://www.globovision.com/article/chevron-esta-jugando-un-juego-largo-en-campos-petroleros-de-venezuela

https://www.venepress.com/economia/Chevron-hace-presion-aEEUU-para-alargaroperaciones-1562700910701

Chevron está jogando um longo jogo nos campos petrolíferos da Venezuela

Os projetos do Orinoco foram os mais caros de se instalar na Venezuela, porque incluem plantas industriais conhecidas como upgraders que convertem o óleo de lama em um produto que as refinarias estrangeiras podem processar. Aqueles custam US $ 3,8 bilhões na PetroPiar. A Chevron estava investindo cerca de US $ 700 milhões por ano no país, mesmo após a nacionalização de Chávez, disse Moshiri em 2014. “Construiu esses revendedores no meio da selva”, diz Russ Dallen, sócio-gerente da corretora Caracas Capital Markets. “Como você explica se afastar disso?”

***

Esta notícia pode ser ruim para o futuro das finanças públicas da Venezuela, mas coloca a Chevron em uma posição privilegiada. Embora muitos rivais possam evitar a Venezuela por causa de seu ambiente operacional difícil e do petróleo de baixa qualidade, a Chevron já possui mais de US $ 1 bilhão em infraestrutura complexa para lidar com ambos. “O resultado ideal é ter a propriedade quando o regime acabar”, diz Dallen, da Caracas Capital Markets. “Eu acho que seu objetivo é superar Maduro.”

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