HOME PAGE SUBSCRIPTIONS, Print Editions, Newsletter PRODUCTS READ THE PETROLEUM NEWS ARCHIVE! ADVERTISING INFORMATION EVENTS PETROLEUM NEWS BAKKEN MINING NEWS

Providing coverage of Alaska and northern Canada's oil and gas industry
July 2008

Vol. 13, No. 29 Week of July 20, 2008

Chavez again threatens to cut off oil to U.S.

President Hugo Chavez says if Exxon Mobil Corp. dares to freeze Venezuela’s assets, he will not sell any more oil to the United States.

Chavez said July 13 that while the U.S. oil giant lost an international court case to freeze the assets in March, it is still trying.

He said that if ExxonMobil succeeds, oil prices will reach US$300. He also accused the company of stealing Venezuela’s oil.

Venezuela took control of four major oil projects last year, prompting ExxonMobil to leave the country. They have since been battling over compensation.

Chavez also reiterated threats to cut off oil sales to the U.S. if Washington tries to oust him. Despite political tensions, the U.S. remains the top market for Venezuelan oil.

—The Associated Press





Copyright 2003 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistrubuted.

Petroleum News - Phone: 1-907 522-9469 - Fax: 1-907 522-9583
[email protected] --- http://www.petroleumnews.com ---
S U B S C R I B E

Copyright Petroleum Newspapers of Alaska, LLC (Petroleum News)(PNA)©2013 All rights reserved. The content of this article and web site may not be copied, replaced, distributed, published, displayed or transferred in any form or by any means except with the prior written permission of Petroleum Newspapers of Alaska, LLC (Petroleum News)(PNA). Copyright infringement is a violation of federal law subject to criminal and civil penalties.