CARACAS: With President Hugo Chávez setting a May 1 deadline for an ambitious plan to wrest control of several major oil projects from American and European companies, a showdown is looming here over access to some of the most coveted energy resources outside the Middle East.
Moving beyond empty threats to cut off all oil exports to the United States, Venezuelan officials have recently stepped up the pressure on the oil companies operating here, warning that they might sell American refineries meant to process Venezuelan crude oil even as they seek new outlets in China and elsewhere around the world.
"Chávez is playing a game of chicken with the largest oil companies in the world," said Pietro Pitts, an oil analyst who publishes LatinPetroleum, an industry magazine based here. "And for the moment he is winning."
But this confrontation could easily end up with everyone losing.
http://www.iht.com/articles/2007/04/10/news/venez.php:dem: :dem: :dem:
Printer-friendly format
Email this thread to a friend
Bookmark this thread
(1000+ posts)
Send PM |
Profile |
Ignore
