Replies to post #18272 on The Rising Influence of Rising Affluence

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The damage to Venezuela Orinoco operations from power failures will take months to fix. Many pipes have congealed tar that will take lots of work to repair. This will also cause efficiency loses to field operations since thermal operations are rate dependent (ie high the rate the more efficient - less heat losses). Latest production is around half of what it was prior to outages. The SA bond offering reveal details that IMO indicate Aramco production will not replace production restrictions from sanctions and natural decline from conventional reservoirs in other major producing regions. This is the chance for Alberta to grab market share aggressively.