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Spanish to English translations [PRO]
Petroleum Eng/Sci / Crude Oil trading | | Spanish term or phrase: crudo de compensación | | En la medida en que el valor del crudo pagado y cobrado de las refinerías fuera el mismo que el valor del crudo pagado a las contratistas por los volúmenes utilizados por las refinerías, y en la medida que los cobros y pagos por transporte y otros servicios fuesen iguales, entonces puede utilizarse la notación anterior y obtener los conceptos implícitos en la determinación del crudo de compensación |
| | | compensation in crude (oil) | Explanation:
I understand the original expression as meaning to "crude to be used as compensation", instead of cash or other value.
See texts: "
Exxon Mobil, which must hand over its operations by May 1, will receive compensation in crude - not cash payments. www.mastrapaconsultants.com/spotlightonvenezuela.html
Iraq - Economic development
As an example, it was announced in 1970 that contracts for all planned projects would be awarded to companies willing to receive compensation in crude oil.
Here crude oil is used to pay services instead of money.
www.nationsencyclopedia.com/Asia-and-Oceania/Iraq-ECONOMIC-...
I hope it helps.
Antonio Barros
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Note added at 6 hrs (2008-09-18 05:52:34 GMT)
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Many of these firms, including Chevron Corp. (CVX) and ConocoPhillips (COP), have said Venezuela was slow in launching talks. Ramirez also announced a scheme to compensate these firms with crude oil instead of cash before three of the transition teams had been established, indicating the government will continue setting the new terms with little to no consultation.
As seen at: http://www.rigzone.com/news/article.asp?a_id=42617 |
| Selected response from:
 Antonio Barros
Brazil
Local time: 13:22
| Grading comment Thanks to both Nicholas and Antonio. Both answers confirm that the term is not special but literally means compensation - a point well rendered in Antonio's explanation.
4 KudoZ points were awarded for this answer |
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| Discussion entries: 0 |
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Automatic update in 00:
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2 hrs confidence:  
6 hrs confidence: compensation in crude (oil)
Explanation:
I understand the original expression as meaning to "crude to be used as compensation", instead of cash or other value.
See texts: "
Exxon Mobil, which must hand over its operations by May 1, will receive compensation in crude - not cash payments. www.mastrapaconsultants.com/spotlightonvenezuela.html
Iraq - Economic development
As an example, it was announced in 1970 that contracts for all planned projects would be awarded to companies willing to receive compensation in crude oil.
Here crude oil is used to pay services instead of money.
www.nationsencyclopedia.com/Asia-and-Oceania/Iraq-ECONOMIC-...
I hope it helps.
Antonio Barros
--------------------------------------------------
Note added at 6 hrs (2008-09-18 05:52:34 GMT)
--------------------------------------------------
Many of these firms, including Chevron Corp. (CVX) and ConocoPhillips (COP), have said Venezuela was slow in launching talks. Ramirez also announced a scheme to compensate these firms with crude oil instead of cash before three of the transition teams had been established, indicating the government will continue setting the new terms with little to no consultation.
As seen at: http://www.rigzone.com/news/article.asp?a_id=42617
Example sentence(s):- The company was to receive its compensation in crude oil to be taken from the reserves. The quantity, on the basis of the posted field prices of crude oil prevailing during the life of the contract, was to be the equivalent of the market value of the fuel
- Petroleos de Venezuela offered to pay several billion dollars of debt with crude oil instead of cash, raising cash flow doubts, the Caracas daily Reporte said, citing unnamed industry sources.
Reference: http://caselaw.lp.findlaw.com/cgi-bin/getcase.pl?court=us&vo...
Reference: http://www.bloomberg.com/apps/news?pid=20601086&sid=ah15PVW4...
| Antonio Barros
Brazil
Local time: 13:22
Specializes in field
Native speaker of:  Portuguese
PRO pts in category: 8
|
| | Grading comment | Thanks to both Nicholas and Antonio. Both answers confirm that the term is not special but literally means compensation - a point well rendered in Antonio's explanation. |
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| Changes made by editors |
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| Sep 18, 2008 - Changes made by Antonio Barros: | | Created KOG entry | KudoZ term => KOG term |
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The translation workplace 
