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Oil Rigs of the type seized by Venezuela last week |
The seizure, which occurred after PDVSA, the national oil agency, defaulted on lease payments owed on the equipment, caused the equipment to be removed from Superior's control, and reportedly shipped to PDVSA. After this telling incident, if you still believe that it is safe to do business with the Government of Venezuela, where the rule of law is what the government tells the judges how to rule, and where foreign companies have no redress for civil wrongs inflicted upon them, then you might want to reconsider your ability to accurately calculate Country Risk.
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