[southnews] Venezuela to respond to US Economic War
 
Date: Sat, 16 Feb 2008 00:53:51 -0600 (CST)



Venezuela's state petroleum company PDVSA suspended oil supplies to 
ExxonMobil after the US energy giant unleashed a legal campaign to 
freeze billions of dollars in global PDVSA assets.

The move came after ExxonMobil, the world's biggest energy company, 
secured international court orders freezing up to 12 billion dollars in 
PDVSA assets.

Venezuela Will Respond Firmly to US Economic War

CARACAS. Venezuelan Energy and Oil Minister Rafael Ramirez said 
Thursday that his country will respond "assertively" to the legal 
actions taken by Exxon-Mobil to impede the US "economic war" against the 
Chavez government.

"Weve denounced that Exxon is clearly working in that direction and has 
the backing of the US State Department," said Ramirez.

Speaking at the Venezuelan National Assembly, the minister stated, "We 
need to be as radical and convincing as necessary to face up to this 
situation."

Ramirez reported to the legislature on the assets freeze set in motion 
by Exxon-Mobil against PDVSA Venezuelas state oil company in 
international courts for compensation for the nationalization of the 
Cerro Negro project.

The official further noted that the decision of the US Corporation is 
not commercial, but rather political; "Exxon-Mobil is trying to defy the 
decisions of a sovereign state."

Ramirez, who is also president of PDVSA, said that Venezuela has already 
found another buyer for the 40,000 barrels previously exported to Exxon 
Mobil in the US.

He further denounced Exxon for "pressuring" banks with branches in 
Venezuela in a further effort to drive his country into a corner.

Hours before, the municipality of Anzoategui demanded that Exxon Mobil 
pay some US $110 million in municipal taxes owed for oil exploitation 
carried out between 2000 and 2006.

http://www.periodico26.cu/english/news_world/venez-us021508.htm

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