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CITGO: Venezuela changes its oil policy in the USA

April 11, 2005
CITGO: Venezuela changes its oil policy in the USA (www.citgo.com)
In his recent public speeches the Venezuelan president Hugo Chavez used to declare the necessity to “adjust” Venezuelan oil policy in respect of the USA so that to reduce dependence of his country on the power-producing market of the superpower. Special attention the President paid to the activities of CITGO – Venezuelan oil company, operating in the north-east regions of the USA. According to Chavez this company does not serve the economic interests of Venezuela, as long as it is not highly profitable and does provide the Venezuelans with direct jobs, as all the seven oil refineries are situated on the American territory. “We subsidize (administration) of Mr. Bush”,- stressed president Chavez with indignation.

That is the reason of more frequent discussions in Venezuela on “normalization” of CITGO functioning in the USA, and, if required, selling the company on the plea, that the presence of CITGO works in the USA itself makes the Venezuelan economy vulnerable, because the Bush administration, in case of further aggravation of American-Venezuelan relations, can resort to retaliatory measures against CITGO.

According to some managers of oil industry in Venezuela the perspectives of CITGO functioning in the USA are nowadays being actively studied and it will take at least 2 years. In other words, in 2006-2007 the CITGO destiny as well as 15 thousand gas-filling stations with the logo of this company, to which the American user got used to, will be resolved.

As forecasted, the Venezuelan state oil company PDVSA, whose branch is CITGO, as the first step in reduction of its presence on the North-American market, will put some of its oil refineries in the USA for sale, keeping in view establishing of additional infrastructure for oil distillation in Venezuela itself.

In the nearest future Venezuela will start construction of oil-refining enterprise in Brazil. China and India are viewed by Venezuela as alternate and, with every year, more active oil consumers.

These plans are unlikely satisfactory for the present Washington government and the respective signals are certainly being sent to Caracas. The Venezuelan leader, for whom any attempts of the “dialog through force” are unacceptable, does not definitely like their tone.

Global struggle for oil deposits acquires more and more bloody, ruthless and amoral nature in the world. Venezuelan oil is a tasty morsel and they are very well aware of it in Venezuela. Caracas does not rule out, that in order to lay hands on Venezuelan power resources, reactionary circles in the USA are capable of both “eliminating” Hugo Chavez, and launching a campaign, that used to be carried out against Noriega in Panama. That is why in Venezuela they are more resolute to defend their oil, including by military means.
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