Bud's Offshore Energy (BOE)

This is a must read letter from Gustavo Coronel, petroleum geologist and former member of Venezula’s Congress, to Alí Rodríguez Araque, Venezuelan Minister of Electric Energy.

You recently spoke in the National Assembly and challenged anyone who opposes the government’s petroleum policy to speak openly.

I take this opportunity to do so. I feel qualified to do this because, when you were a member of the Venezuelan guerrillas during the 1960’s, in charge of blowing up oil installations, I was active in building them. During much of my life I have produced oil while you have lived off the oil we have produced.

On the Aban Pearl:

The renting of offshore drilling barges, such as the Aban Pearl, which sank last year in Venezuelan waters, has been full of irregularities that I have denounced in much detail without any action being taken, so far.

Just a few days ago at an advisory committee meeting, some of us were talking about what an outstanding company PDVSA used to be. At Penn State, we had some very bright petroleum engineering students from Venezuela who went on to work for PDVSA.  I am sure they have some very interesting stories to tell about their careers and the changes in Venezuela’s oil industry.