Last week, Reuters gave us a factbox double-whammy on Venezuela's state expropriations (by the way - I love the factbox), one detailing Hugo's takeovers to date, the other detailing who had yet to be hit. Shortly after, six Japanese firms announced they were leaving for dead their aluminum smelting operations in the country.
Now, we have the National Assembly appoving a law to increase the state's stake in the petrochemicals industry.
So, going back to the hit list, with the Japanese going, who's still left?
Now, we have the National Assembly appoving a law to increase the state's stake in the petrochemicals industry.
So, going back to the hit list, with the Japanese going, who's still left?
- An affiliate of U.S. chemical maker FMC Corp (FMC.N) has
a 33.3 percent stake in the Tripoliven plant in Carabobo state.
According to the company, the plant is owned by Pequiven,
Valquimica SA and FMC Foret, Spanish subsidiary of the U.S.
corporation.
- Privately held Koch Industries owns 35 percent of FertiNitro, one of the world's largest nitrogen-based fertilizer plants, in partnership with Pequiven, which owns 35 percent, and Snamprogetti, an affiliate of Italy's Saipem SpA (SPMI.MI), which holds 20 percent.
- Schlumberger Ltd (SLB.N): The world's largest oil service
company is also the principal provider of services in Venezuela
including drilling, measurement and well services designed to
boost output of operations. Sources say PDVSA's debts with
Schlumberger are the largest among the service companies
operating in the country.
- Halliburton Co (HAL.N): A major player in Venezuela's oil
services market, Halliburton provides products such as drilling
fluids and a range of oil well services. PDVSA owes it hundreds
of millions of dollars in debts. Supporters of leftist Chavez
have frequently insulted the company for its association with
former U.S. Vice President Dick Cheney despite it being a key
PDVSA contractor.
- Petrex: Owned by a division of Italy's Eni (ENI.MI),
Petrex operates around 30 land rigs throughout Venezuela,
mostly concentrated in the eastern region.
- Baker Hughes (BHI.N): The world's third-largest oil
services company provides a range of oil field and oil well
services in Venezuela.
- San Antonio Internacional: A land-based driller with a
heavy presence in Latin American oil operations and a key
driller in Venezuela.
- Other contractors operating in Venezuela include Danish shipping and oil group A.P. Moller-Maersk (MAERSKb.CO), BJ Services Co (BJS.N) and Weatherford International Ltd (WFT.N).
Hmmm. Anyone want to take odds on who's next?
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