Wednesday, July 25, 2007

ConocoPhillips takes $4.5 billion hit in Venezuela

ConocoPhillips takes $4.5 billion hit in Venezuela:
"ConocoPhillips' second-quarter income plummeted because of its previously-announced writeoff of the $4.5 billion value of three oil projects taken over last month by Venezuela's government-run oil company, the Houston-based oil major said today."
I say seize a Citgo refinery and give it to ConocoPhillips.

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