Venezuelan President Hugo Chavez sent a soothing message to US motorists, saying that Venezuela is not preparing to cut off oil shipments to the US.
The socialist leader rattled oil markets when he threatened a week ago to halt shipments to the US in retaliation for Exxon Mobil Corp's success in convincing courts in the US and Europe to freeze Venezuelan assets.
"We don't have plans to stop sending oil to the United States," Chavez said on Sunday during a visit to heavy-oil projects in Venezuela's petroleum-rich Orinoco River basin that were nationalized last year.
But he added that Venezuela could cut off supplies to the US if Washington "attacks Venezuela or tries to harm us."
Chavez has repeatedly warned against a possible US invasion to seize control of Venezuela's immense oil reserves. US officials have denied any such plan exists. The US relies on Venezuela for about 10 percent of its oil imports.
The Chavez administration is locked in a legal battle with Exxon Mobil over compensation for the nationalization of one of four heavy-oil projects in the Orinoco River basin.
Exxon Mobil, the world's largest publicly traded oil company, is seeking to freeze billions of dollars in Venezuelan assets in the US and Europe to guarantee a payoff if it wins a decision by an international arbitration panel.
Last month, a British court injunction ordered the temporary freezing of up to US$12 billion in assets of state-run Petroleos de Venezuela SA (PDVSA).
Last Thursday, Oil Minister Rafael Ramirez said Exxon Mobil was demanding more than 10 times the compensation it may deserve from Venezuela for nationalizing the oil venture.
Exxon Mobil walked away from its heavy-oil upgrading operations in the Orinoco basin after Caracas changed the terms of the contract. Other major oil firms, including the US' Chevron Corp, France's Total, Britain's BP PLC and Norway's StatoilHydro ASA, have made deals to continue on as minority partners.
Tropical Storm Usagi strengthened to a typhoon yesterday morning and remains on track to brush past southeastern Taiwan from tomorrow to Sunday, the Central Weather Administration (CWA) said yesterday. As of 2pm yesterday, the storm was approximately 950km east-southeast of Oluanpi (鵝鑾鼻), Taiwan proper’s southernmost point, the CWA said. It is expected to enter the Bashi Channel and then turn north, moving into waters southeast of Taiwan, it said. The agency said it could issue a sea warning in the early hours of today and a land warning in the afternoon. As of 2pm yesterday, the storm was moving at
UPDATED FORECAST: The warning covered areas of Pingtung County and Hengchun Peninsula, while a sea warning covering the southern Taiwan Strait was amended The Central Weather Administration (CWA) at 5:30pm yesterday issued a land warning for Typhoon Usagi as the storm approached Taiwan from the south after passing over the Philippines. As of 5pm, Usagi was 420km south-southeast of Oluanpi (鵝鑾鼻), Taiwan proper’s southernmost tip, with an average radius of 150km, the CWA said. The land warning covered areas of Pingtung County and the Hengchun Peninsula (恆春), and came with an amended sea warning, updating a warning issued yesterday morning to cover the southern part of the Taiwan Strait. No local governments had announced any class or office closures as of press time last night. The typhoon
At least 35 people were killed and dozens more injured when a man plowed his car into pedestrians exercising around a sports center in the southern Chinese city of Zhuhai on Monday night. Footage showing bodies lying on the pavement appeared on social media in the hours after the crash, but had vanished by early Tuesday morning, and local police reported only “injuries.” It took officials nearly 24 hours to reveal that dozens had died — in one of the country’s deadliest incidents in years. China heavily monitors social media platforms, where it is common for words and topics deemed
Typhoon Usagi yesterday had weakened into a tropical storm, but a land warning issued by the Central Weather Administration (CWA) was still in effect in four areas in southern Taiwan. As of 5pm yesterday, Tropical Storm Usagi was over waters 120km south-southwest of Oluanpi (鵝鑾鼻), the southernmost tip of Taiwan proper, and was moving north at 9kph, CWA data showed. The storm was expected to veer northeast later yesterday. It had maximum sustained winds of 101kph, with gusts of up to 126kph, the data showed. The CWA urged residents of Kaohsiung, Pingtung County, Taitung County and the Hengchun Peninsula (恆春) to remain alert to
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