Petroleumworld Weekly Review May 07 - 14

Venezuela to pass new extraction tax and income tax rate on oil companies

By Elio Ohep
Petroleumworld
CARACAS
Petroleumworld.com 05 09 06

Rafael Ramírez, the oil and energy minister said to reporters Monday, the Venezuelan government would submit for approval by the country's National Assembly, two new tax bills, one to impose in addition to the present oil royalty tax, a new oil extraction tax to be levy on all oil extracted from the ground and to be paid in money not in crude or products, and a second to increase the income rate to 50% in the tax law, to be paid by all oil companies.- story

Week´s Editorial Commentary

 

Aleksander Boyd/ The Times :
Guess who's coming to dinner with Red Ken?

 

---

Week`s Lagniappe

 

Scott Sullivan:
Morales's goal is regional sabotage

 

---

TOP HEADLINES

PDVSA and YPFB to partner in new
joint venture to operate in Bolivia

By Elio Ohep Petroleumworld
CARACAS Petroleumworld.com 05 12 06 - story

Morales defends nationalisations
at EU-Latin America summit

AP Photo/Virginia Mayo

Bolivia's President Evo Morales gestures while speaking during
a media conference at an EU Latin America summit in Vienna, Thursday May 11, 2006.

By Michael Adler AFP
VIENNA Petroleumworld.com 05 12 06 - story

Secretary Rice : Two options for Iran
a civil nuclear program or isolation

AP Photo/Charles Dharapak

Secretary of State Condoleezza Rice, right, meets with European Union foreign policy chief Javier Solana at the State Department in Washington Wednesday, May 10, 2006.

Petroleumworld CARACAS
Petroleumworld.com 05 11 06 - story

Putin defends Russia's
energy supplies to Europe

AFP/ITAR-TASS/Dimitry Astakhov

Russian President Vladimir Putin delivers his speech during his annual address at the Kremlin in Moscow. The United States has "differences" of opinion with Russia, but there is an open relationship that allows the two to speak frankly, State Department spokesman Sean McCormack said.

By Dario Thuburn AFP
MOSCOW Petroleumworld.com 05 11 06 - story

US won't reply to Iran letter, wants
real progress on nuclear issue

AP/WWP

Secretary Rice (R) and British Foreign Secretary Margaret Beckett meet May 8, 2006, in New York

By Stephanie Griffith AFP
WASHINGTON Petroleumworld.com 05 10 06 - story

Kuwait unveils new oil privatization plan

AP/WWP

Al Sabah (L): KPC plans to sell at least 30% of KUFPEC
and 49 percent of Kuwait Drilling Company

AFP KUWAIT CITY
Petroleumworld.com 05 10 06 .- story

Oil prices drop as Iran writes to US

Fars News/Hosein Fatemi/Reuters

Iranian President Mahmoud Ahmadinejad speaks at the Basij Militia in Tehran May 7, 2006. Ahmadinejad send a letter to U.S. President George W. Bush proposing new ways to resolve 'the current vulnerable situation in the world', an Iranian official said on Monday.

By Antoine Agasse AFP
NEW YORK Petroleumworld.com 05 09 06 - story

Oil markets at risk from terror hit: experts


By Michel Moutot AFP
PARIS Petroleumworld.com 05 08 06 - story

Chavez taunts foes with talk of
extending his presidency to 2031

AFP CARACAS
Petroleumworld.com 05 08 06 - story

---

Petroleumworld`s
Opinion Forum:
viewpoints on issues in energy & international politics.

Sunday´s
Opinion

Asian Oils In Africa: A Challenge To
The International Community-(Part 2 of 2)



By Florence C Fee - story - Previous stories

Sunday's
Feature

The Coming Natural Gas Cartel

By Michael J. Economides

Oil is not America’s only energy addiction. With domestic gas production in decline, the United States and many of its allies will grow more dependent on imports to generate electricity and heat homes. - story - Previous stories

Saturday's
Lagniappe

In Bolivia: The mouse that roared

By Gustavo Coronel

Bolivia has nationalized the hydrocarbons industry three times: from 1916 to 1920; from 1936 to 1989; and now, in May 2006.- story - previous stories

---

For Daily Energy, Oil & Gas information
www.petroleumworld.com

If you wish to subscribe to this newsletter,
please send a BLANK e-mail to readerspetroleumworld@hotmail.com
with Add Weekly in the subject and you email in the text.

For further information on Petroleumworld
please contact:editor@petroleumworld.com

Advertising

Venezuela´s
MEP Oil & Gas Map
2005-06

Now on sale

The Energy Guide
to Venezuela

By Venezuelan British
Chamber of Commerce

OP-ED COMENTARY

M. Ron Wahid/ WT:
Venezuela's takeover

VenEconomy : An
empire of impositions

Aleksander Boyd/ The Times : Guess who's coming to dinner with Red Ken?

NYT : Peru's Looming Disaster

Andrew McKillop: Whatever happened to oil price elasticity?

LAGNIAPPE

Jeff Slade: Great exploitations: The left and illegal immigration

Reuters: Ahmadinejad's Letter to Bush

Scott Sullivan: Morales's goal is regional sabotage

San Francisco Cronicle: Nationalizing natural resources: In Bolivia, it's a gas

THEMES

The Energy Co-operation agreement "Petrocaribe"

Services & Products

Bridging the energy gap
is ONS 2006 theme,
from 22-25 August,
in Stavanger, Norway