Chávez Backs Off Threats to Halt Oil Exports to U.S. |
| New York Times - Feb 18, 2008 |
President Hugo Chávez said on Sunday that Venezuela was not planning to halt oil exports to the United States. The statement may ease fears in energy markets over fallout from Venezuela’s legal battle with Exxon Mobil over compensation for the nationalization of a large oil project.
Mr. Chávez’s conciliatory tone stands in contrast to recent comments made by him and other officials here in which they threatened to stop exporting oil to the United States. They said the Bush administration and Exxon Mobil were conspiring to wreak economic havoc in Venezuela.
“We do not have plans to stop sending oil to the United States,” Mr. Chávez said during his weekly television program. Venezuela supplies about 1.25 million barrels of crude oil a day to the United States, ranking as the country’s third-largest supplier of oil after Canada and Saudi Arabia, according to the Department of Energy in Washington.
Read Full Article from New York Times
- Posted: 2008-02-18 09:30:50
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