Rumor of Oil?

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PJT

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Jan 8, 2002
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I was involved in a discussion this past week with a Dominicano about the poor political and economical conditions of the D.R. He mentioned the riches of the country in forms of agriculture, tourism, minerals, and oil. I listened incredulously, being quite skeptical of his statement and told him if the country had any oil the country would not be in the sad situation it is now in. He went on to say oil had been discovered in the Azua region so many years back. Of course, no firm dates or particulars were provided. He continued, indicating the government hushed up the incident and added that ?Guzman? was killed to keep things quiet. I can only pin the name to Antonio Guzman a former President, who committed suicide. The more I questioned the validity of my friend's information, the more entrenched he became.

This story really belongs in The Clown Bin, if it did not mention Guzman. I?m still scratching my head, would like to know how rumors like this get started? Regards, PJT
 
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Dolores1

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May 3, 2000
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The announcement of finding oil did occur during the Guzman government. I don't remember the other details, and would have to go back to check the print archives of The Santo Domingo News. Probably someone with a good memory can tell us the story again.
 
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PJT

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Jan 8, 2002
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Announcement of finding oil

Dolores, thanks for your response. At least my friend was not completely off his rocker. It would be interesting to get some of the "official" facts so we can observe how a history can be twisted. Regards, PJT
 
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Ken

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Jan 1, 2002
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I don't know about the past, but the search for oil still goes on. There has been serious talk about drilling in the Bay of Samana that has raised a lot of concern among people aware of the uniqueness of that body of water and its value to the country as it is.
 
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suarezn

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It is a fact that there's oil in the DR. There are areas around Azua where it bubbles up to the ground. Now the question is whether there's enough oil to warrant all the investment that it would take to make a profit. Something I heard way back was that the oil in the DR is basically the same oil (mine) that Venezuela currently exploits. Basically there's supposedly a "vein" of oil that goes all the way from Venezuela to the DR and since Venezuela has already claimed it we can't exploit it. I'm sure that's all a myth.
 
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dms3611

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Jan 14, 2002
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Oil...does NOT bubble up in ground around Azua.....

we mine materials in that regiion....sulphur springs yes..."bubbling" oil...no.

....there are, however, 3 groups currently with concessions in the DR that are exploring currently for reserves that are economically feasible to tap into.
 
Jasper

Jasper

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Jan 10, 2002
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Balaguer and his oil

I heard a couple years ago from an american who heard through his countrymen doing business in dr that balaguer gave the exclusive drilling rights to an american guy years ago. no one else could drill for oil. unfortunately the guy didn't have the resources to do much speculative drilling so it never went anywhere. don't know if it's fact or fiction, but consistent with balaguer.
 
Hlywud

Hlywud

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Jan 1, 2002
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Re: Balaguer and his oil

Jasper said:
I heard a couple years ago from an american who heard through his countrymen doing business in dr that balaguer gave the exclusive drilling rights to an american guy years ago. no one else could drill for oil. unfortunately the guy didn't have the resources to do much speculative drilling so it never went anywhere. don't know if it's fact or fiction, but consistent with balaguer.
Click to expand...

I heard that also G. Bush
 
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BushBaby

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Sorry Hlywud but which G. Bush are you refering to? If it was me, sorry but I am not Jasper - I go under BushBaby. If it was 'tother one from USA, I didn't know he was a contributor to these pages .... MY, we have come a long way if he IS!! = Grahame.
 
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Tony C

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I was living in the DR when tha story broke back in the 80's.
Supposedly they did find some Oil in the DR near Azua. Nothing came of it. It is probobly similar to the oil found in Cuba. Not a lot and of a very poor grade. Cuba has about 10 pumps pulling out a dubious amount of Oil. It is all for show on Fidel's part.
Be real. If there was any significant amount of oil to be found in the DR their would be Derricks all over the place.
 
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Petaka

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Nov 8, 2002
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Yes, there's always been oil

Then president Trujillo had samples of it shown at La Feria De La Paz for the world to see.
As to how big a reserve and the quality of it, it's never been publicized. It probably does not merit the expense of digging the rest.
 
Hillbilly

Hillbilly

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Jan 1, 2002
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Overall

There are three or four oil exploration consessions that are currently in operation. some are being acted upon and some are dormant. Once-Once is one of the more famouse ones and Mobile is supposedly doing something.

Now I have seen photos for oil "bubbling up"around some place in Azua. Where, I have no idea.

The Antonio Guzman announcement was tragi-comedy.

I get the feeling that the quantity is just not there for exploitation, and it is not a question of quality since weveryone buys the Venezuelan stuff.

The idea is that the oil pool covers all of the area under the Caribbean Plate, but that is something for real geologists to discuss...

HB
 
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Criss Colon

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Jan 2, 2002
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We better start looking!!!!!!!!!!!!!!!!!

It is reported today that Venezuela has delayed the sail of three oil tankers for the Dominican Republic! It may be that Chavez is pissed that the DR has granted political assylum to two guys who tried to overthrow him! Since the DR gets 85% of it's oil from Venezuela this could develope into a crisis very quickly! Criss Colon
 
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Escott

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Re: Black Gold

PJT said:
Today's issue, Sat, June 7, of El Caribe digital is running a story (in Spanish) about oil exploration within the country. It makes for interesting reading. End result, they have not hit a gusher yet.
Regards, PJT


www.elcaribe.com.do/periodico_impreso/cuerpos/portada/impactos/impactos-a.asp
Click to expand...
I have no doubt that if the Dominican Republic found oil reserves that match those of Saudi Arabia that they somehow wouldnt come up with one dime to pay off the Sovereign Bonds if they were pumping like mad!

I would also bet that Yachts would get bigger and the Private Planes would be more visable.

Did I spell Yachts right?

Scott
 
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Chirimoya

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Dec 9, 2002
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Escott, I only love people who can spell.

Back to topic - you are right when you say that having oil does not mean automatic prosperity for the nation as a whole. Think of a couple of examples close to home as well as farther afield. The DR has a gold mine that loses money - that should auger well for the day we strike oil.

Chiri
 
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Escott

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Jan 14, 2002
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Chirimoya said:
Escott, I only love people who can spell.

Back to topic - you are right when you say that having oil does not mean automatic prosperity for the nation as a whole. Think of a couple of examples close to home as well as farther afield. The DR has a gold mine that loses money - that should auger well for the day we strike oil.

Chiri
Click to expand...
I have to tell ya that I find the possibility of striking oil in the DR fascinating. I can't wait to see the new ways individuals will screw the rest of the people to line their pockets! It will certainly be a good show put on by the people elected by the people. Golo will be proud!
 
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