OIL anyone? DR IS ABOUT TO STOP BUYING

ERICKXSON · #1 11-19-2003, 10:43 AM

Hey guys for all of you that speak Spanish follow the following link
http://www.listin.com.do/cuerpos/dinero/din1.htm

The DR is about to start the production of PETROLEUM and derivates. This is a real good news.............................................. ..
No wonder why Hippo want to stay in power.................................
let see how can we get our pockets lined up to get dividens out of this.

if anyone has a better insight about this deal let us all know.

samiam · #2 11-19-2003, 10:48 AM

I remember I was 11-12 years old when I saw a special on TV where Freddy Beras Goico did a story on that and in the show they lighted up a can of Dominican oil. I am 30 now so, I dunno what the chances are for this to materialize, I think of the prospects where economically attractive, someone would have started pumping it along time ago.

PJT · #3 11-19-2003, 10:51 AM

This is nothing new, just a pipe dream. Regards, PJT

carlos · #4 11-19-2003, 12:35 PM

it can happen but don't the DR to obtain all the rewards, if any at all. The good ol USA is pushing for this.

Texas Bill · #5 11-19-2003, 12:48 PM

cmedino07

I think (correct me if I am wrong) the DR Constitution and/or an existing law prohibits the export of any petroleum produced in the DR, so how would the production of same benefit the USA?
I think, also, that there is an additional legal stipulation that any such production be to the exclusive use of and within the DR.
In addition, I believe such oil is of the high sulphur content currently not crackable/marketable in the USA under existing US law.

Texas Bill

carlos · #6 11-19-2003, 01:10 PM

DR Constitution? DR Law(s)? Legal Stipulation?

come one Texas Bill, from what I have read...you live in the DR and you should know how things work.

who do you think is paying for this project to go fwd?

ERICKXSON · #7 11-19-2003, 03:27 PM

The US is pushing for it, there's must be a reason why?

MONEY, MONEY, MONEY, MONEY, MONEY, MONEY, MONEY, MONEY, MONEY, MONEY, MONEY, MONEY, MONEY, MONEY, MONEY, MONEY, MONEY, MONEY, MONEY, MONEY, MONEY, MONEY, MONEY, MONEY, MONEY, MONEY, MONEY, MONEY, MONEY, MONEY, MONEY, MONEY,

samiam · #8 11-19-2003, 04:23 PM

Even if they find considerable amounts of Oil in the DR, the quality of the oil will determine if its commercially exploitable or not. As far as I know, the few drops we've managed to squeeze have high contents of sulfur, vanadium and other elements that make it unatractive because they elevate the corrosion levels of the oil and increase the maintenance costs of power plants that use them. Think of it as drinking McAlbert as opposed to Chivas. Which will probably give you the worst headache the next day?

Still, if the fuel is bad in quality, but can be refined to get a descent fuel oil and diesel out of it, the country would benefit by reducing its imports, even though the Generating companies buy little of the local stuff and prefer to import from elsewhere. We'll probably get a low quality fuel orperhaps Orimulsion, a high metal and water content fuel. Venezuela has pushed for Orimulsion to take off because they have loads of this bad stuff and is cheap as hell. Some powerplant engine companies have made advances in it but in my opinion its a dead end as the tendency in the industry is to become greener and change to LoNox engines that burn cleaner Fuel Oils and/or NatGas.

No matter how bad it is, atleast we'll get enought black stuff to pave the roads. The problem is, I dont think we've got enough of it to exploit.

Every government that gets desperate pulls out the Dominican OIl wild card and people just start wondering off.

dms3611 · #9 11-19-2003, 05:41 PM

.....on the same timeline as the Manzanillo "Mega Meurto" project.

As far as fuel in the country...it would be real hard to get much worse than the " quality fuels" that are already being imported. PLENTY of sulphur here.....lowest grades at the highest prices. This is the chief reason that engines have to have unusually high amounts of maintenance here (for those relatively few folks that actually maintain their equipment instead of just running the "****" out of the machines till they have to have MAJOR overhauls.

PJT · #10 11-19-2003, 06:19 PM

Crude oil is at about $33 US a barrel right now. The oil search in the D.R. is exploratory. The big question mark is: is there enough potential oil reserves to warrant continued drilling, what is the quality and what is the cost of extraction? You figure, past exploration of oil in the country resulted in nada. There either was not enough oil or if enough, the cost of extraction exceeded the cost per barrel. This would suggest the cost of barrel will have to go way above $33 before extraction of any oil is viable in the D.R. Regards, PJT