How long until venezuela pays its debts to oil companies?

[strateguy632]

long ago venezuela nationalized its oil. but that stole equipment etc. from businesses for example exxon etc. exxon sued for damages.

now that trump got the leader out of the way: venezuela renewed its oil production and increased output. as more investors and companies fix the industry there venezuela is earning billions!

so how long until venezuela pays back damages to all those companies?

[RavVid]

According to google it is 22 billion owing but that shouldn't take too long to pay off as it earns 4 billion pa but some sources claim 15 bill pa. With additional investment they should be rolling in it like Scrooge.

Maybe a constitutional amendment against nationalizing mineral resources might help them BUT right next door there is Gyana with law that is steeped in British common law traditions and is a member of the Commonwealth of Nations.

It even plays cricket as part of the renowned Windies (West Indies) cricket team. So they are definitely going to play fair and respect the umpire's decisions.

So Gyana is obviously a much better bet though they don't have as much tar like oil.

[RavVid]

Thanks for a mho.

[_Jenny_]

A very long time