& Tobago

Very usefull links





Business Partners





FxHQ Forex News

The Global Barrel

Tiempo Cultural

Gustavo Coronel

Iran Watch.org

Le Blog des
Energies Nouvelles

News Links




Dow Jones

Oil price



Views and News




Inside, confidential and off the record






Moshiri $500 mill for Venezuela

You Tube

Ali Moshiri, CEO of Amos Global Energy and the retired head of Chevron Corp's
Africa and Latin America exploration and production businesses.

Former Chevron exec seeks $500 million for post-sanctions Venezuela



HOUSTON - The former chief of Chevron Corp's Latin American operations is moving to raise $500 million from big financial firms to invest in Venezuela once U.S. sanctions are eventually lifted, confident that political change will come and that foreign investment will be needed to boost sagging oil output.

Amos Global Energy LLC, an oil and gas firm started by former Chevron executive Ali Moshiri, begins a road show to raise funding next month, seeking five big investors to put in $100 million each. Amos Global, which includes Moshiri and two co-founders, also is researching Venezuela public debt holders for another fund that would be even larger.

“We are trying to be the first to enter Venezuela when sanctions are lifted,” he told Reuters in an interview on Monday. Amos Global's goal is to line up investors and manage the assets.

The United States imposed sanctions on Venezuela's state-run oil firm, PDVSA, in January, seeking to starve the country of oil revenue and oust President Nicolas Maduro. Many Western nations regard last year's Venezuelan election as fraudulent, while Maduro has denounced opposition leader Juan Guaido as a U.S. puppet seeking to foment a coup.

Venezuela has the world's largest reserves of oil, which accounts for the bulk of the country's export revenue, but production has tumbled.

Moshiri said he understands the difficulty of raising funds when Venezuela's sovereign bonds are in default, but believes he will be able to win investors. The plan will combine a low management fee, input from investors through seats on the board, and allowing them to leave the fund after two years with a 2% penalty if sanctions remain.

Moshiri, who retired from Chevron in 2017 after nearly four decades with the oil major, oversaw exploration and production in Latin America and Africa. He launched Amos Global Energy soon afterward with Noel Avocato, a former Chevron executive, and Chris Hasty, a former banker with Citigroup, Lloyds Bank and Morgan Stanley.

The company also is hunting for assets in Mexico and Argentina, both places where energy investments have stalled this year. Moshiri insists opportunities exist there and in Colombia, but concedes they require patience given the hurdles to foreign investment.

He is looking to farm into an existing project or take over assets in Mexico's Chicontepec Basin, an onshore field northeast of Mexico City that he compares to the U.S. Eagle Ford shale field. The company has a financial partner he will not name that he said is ready to put up $500 million if Amos Global finds the right projects.

“If there's no deal, good, we're going to continue to do our research and provide consulting,” Moshiri said. “You learn about business by being patient.”

Reporting by Jennifer Hiller in Houston; Editing by Matthew Lewis



Jennifer Hiller / Reuters / Oct. 21, 2019


Original article

ISSUES.... 10 / 22 / 2019 - Send Us Your Issues

Inside, confidential and off the record

Is an independent journalist effort from Petroleumworld, on Inside, Confidential and Off The Record Information, the views are not necessarily those of Petroleumworld

Follow us in : twitter / Facebook

Send this story to a friend Copyright© 1999-2019. Petroleumworld or respective author or news agency. All rights reserved.

We welcome the use of Petroleumworld™ stories by anyone provided it mentions Petroleumworld.com as the source. Other stories you have to get authorization by its authors.Internet web links to http://www.petroleumworld.com are appreciated.

Petroleumworld welcomes your feedback and comments, share your thoughts on this article, your feedback is important to us!

We invite all our readers to share with us
their views and comments about this article.

Write to editor@petroleumworld.com


By using this link, you agree to allow PW
to publish your comments on our letters page.



Hit your target - Advertise with us

Any question or suggestions,
please write to: editor@petroleumworld.com


Best Viewed with IE 5.01+ Windows NT 4.0, '95,
'98,ME,XP, Vista, Windows 7,8,10 +/ 800x600 pixels




Contact: editor@petroleumworld.com/Telephone:(58 414) 276 3041

Elio Ohep.

Director & Producer: Elio Ohep

Contact: editor@petroleumworld.com

Advertising:Malena Vasquez:58 412 952 5301

Technorati Profile

PW in Top 100 Energy Sites

CopyRight ©1999- 2019, Petroleumworld ™  / Elio Ohep- All rights reserved


Legal Information This site is a public free site and it contains copyrighted material the use of which has not always been specifically authorized by the copyright owner.We are making such material available in our efforts to advance understanding of business, environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have chosen to view the included information for research, information, and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission from Petroleumworld or the copyright owner of the material.Internet Web links to http://www.petroleumworld.com are apreciated.


Petroleumworld no se hace responsable por los juicios de valor emitidos por esta publicacion, por sus colaboradores y columnistas de opinión y análisis. Aceptamos colaboraciones previa evaluación por nuestro equipo editorial, estamos abiertos a todo tipo o corriente de opiniones, siempre y cuando a nuestro juicio esten dentro de valores éticos y morales razonables. Petroleumworld alienta a las personas a reproducir, reimprimir, y divulgar a través de los medios audiovisuales e Internet, los comentarios editoriales y de opinión de Petroleumworld, siempre y cuando esa reproducción identifique a la fuente original, http://www.petroleumworld.com y se haga dentro de el uso normal (fair use) de la doctrina de la sección 107 de la Ley de derechos de autor de los Estados Unidos de Norteamérica (US Copyright) Internet Web links hacia http://www.petroleumworld.com son apreciadas.