This kind of equipment-for-oil compensation deal -- predicated on necessarily vague and speculative terms to spare Moscow the problem of immediate, hard currency payments -- is altogether too easily translated into "debt forgiveness" in the future.
Venezuela threatens no oil takeover compensation.
CENTERFORSECURITYPOLICY: Citgo: A Chavez-Kennedy enterprise?
The oil producer could face compensation claims for as much as three times the immediate economic loss.
They include representatives of members of The Organization of the Petroleum Exporting Countries (OPEC), who argue they should receive compensation because of the impact reduced oil consumption would have on their economies.
In the oil nationalisation, four foreign oil firms accepted the new contractual arrangements, but two, ExxonMobil (US) and ConocoPhillips (US), pulled out of the heavy-oil ventures entirely and are suing Venezuela for additional compensation in international courts.
Specifically, Executive Order 13554 recognized the importance of carefully coordinating the work of the Task Force with the Trustee Council, whose members have statutory responsibility to assess natural resources damages from the Deepwater Horizon Oil Spill, to restore trust resources, and seek compensation for lost use of those trust resources.
WHITEHOUSE: Executive Order -- Gulf Coast Ecosystem Restoration
So while our interests align on capping this well, we would never ask BP to tell us how much oil they think has leaked in order for us to determine the compensation and penalty that is to be derived from it.
One of the things that they talked about, that the President talked about with the fishermen and the President talked about with the parish presidents is how do we set up a compensation system for those whose livelihoods are threatened because of this oil that are normally out fishing right now?
WHITEHOUSE: Aboard Air Force One En Route Andrews Air Force Base
Earlier this month Kenneth Feinberg, the Treasury Department's special master for TARP executive compensation, officially moved on to oversee claims against BP from the Gulf oil spill.
The persuasion includes the promise of generous compensation for countries that Iraq has been assiduously wooing with gifts of cheap oil and thoughts of future, lucrative contracts.
The prosecution asked the judges to force Shell to do three things: clean up the mess created by oil leaks in the three villages, repair and maintain the defective pipelines and pay compensation.
BBC: Shell in Nigeria: Dutch court to rule in pollution case
He has announced that Venezuelan troops will occupy the oil fields beginning May 1st, and has warned foreign companies not to seek "excessive compensation" from his government.
CENTERFORSECURITYPOLICY: The economics of Latin American populism
Oil company YPF, Argentina's largest company, has led the way in incentive-based compensation, tying pay to return on capital.
Last year BP agreed to pay compensation to around 100, 000 people and companies - including fishermen and restaurant owners - who claimed the oil spill had harmed their livelihoods or their health.
应用推荐