Translation: VENEZUELA NEEDS MODERN WEAPONS, SUN BURN MISSILES, SU-31 AND
RUSSIAN
CENTRIFUGE TO PROTECT ITS FREEDOMS
------------------------------------------------------------
http://www.themoscowtimes.com/stories/2004/11/26/042.html
Friday, November 26, 2004. Page 7.
Chavez Calls on OPEC to Lift Oil Price Targets
By Lyuba Pronina
Staff Writer
Venezuelan President Hugo Chavez
Oil producers should ensure that the price of oil never again falls
below $30 per barrel, visiting Venezuelan President Hugo Chavez said
Thursday.
Chavez, a former president of OPEC, urged fellow cartel members to
vote in favor of current production quotas at next month's meeting in
Cairo and for a higher price target for crude.
"The $22 to $28 barrel price is history now. We should never let oil
prices drop sharply," Chavez told an industry conference in Moscow.
The war in Iraq and growing demand have pushed oil prices beyond a
record $50 per barrel in recent months, fueling an unprecedented
economic expansion in non-OPEC Russia, the world's largest exporter
after Saudi Arabia.
But Chavez said it is pointless to talk about a maximum oil price when
"one barrel of water is more expensive than a barrel of oil, a barrel
of wine is three times as expensive, and a barrel of whisky is even
more expensive."
Chavez, the populist leader of the world's fifth-largest oil exporter,
urged Russian companies to help develop his country's vast hydrocarbon
reserves.
"Our potential? First of all it is in our peoples and then oil," he
said.
LUKoil is expected to sign an agreement Friday with Venezuela's
state-owned oil giant PDVSA to explore joint production projects in
South America.
PDVSA director Eulogio del Pino told reporters on the sidelines of the
conference that the plan is to create a joint venture in which
Venezuela would own 51 percent.
He said specific terms and investment figures would be hammered out at
a later date.
LUKoil has said it may spend up to $1 billion developing Venezuelan
oil fields.
Del Pino also invited Russian companies to participate in projects to
extract natural gas off Venezuela's northern coast.
Chavez said Russia is a key part of his country's economic and
political strategy to diversify its relations with strategic partners.
"Our northern neighbor, the United States, might not like that very
much," he said.
The charismatic leader also thanked "President Vladimir Putin, the
Russian government and the Russian people" for their support during
what he called two years of aggression by the United States, which he
accused of trying to overthrow him in 2002.
"They used to hold us by the throat like this, like a rabbit," Chavez
said, shaking an imaginary rabbit with his fist. "We are free now, and
we will continue to be free," he said to a round of applause.
Copyright © 2004 The Moscow Times. All rights reserved.
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| User: "Leigh_Bee" |
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| Title: Re: Chavez Calls on OPEC to Lift Oil Price Targets |
28 Nov 2004 04:21:38 PM |
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"MonsieurStat" <Monsieustat@yahoo.com> wrote in message news:<ORfqd.1$kI6.1580@news20.bellglobal.com>...
Translation: VENEZUELA NEEDS MODERN WEAPONS, SUN BURN MISSILES, SU-31 AND
RUSSIAN
CENTRIFUGE TO PROTECT ITS FREEDOMS
------------------------------------------------------------
http://www.themoscowtimes.com/stories/2004/11/26/042.html
Friday, November 26, 2004. Page 7.
Chavez Calls on OPEC to Lift Oil Price Targets
By Lyuba Pronina
Staff Writer
Venezuelan President Hugo Chavez
Oil producers should ensure that the price of oil never again falls
below $30 per barrel, visiting Venezuelan President Hugo Chavez said
Thursday.
Chavez, a former president of OPEC, urged fellow cartel members to
vote in favor of current production quotas at next month's meeting in
Cairo and for a higher price target for crude.
"The $22 to $28 barrel price is history now. We should never let oil
prices drop sharply," Chavez told an industry conference in Moscow.
SNIP>
"They used to hold us by the throat like this, like a rabbit," Chavez
said, shaking an imaginary rabbit with his fist. "We are free now, and
we will continue to be free," he said to a round of applause.
Copyright © 2004 The Moscow Times. All rights reserved.
That is the problem with higher pricing, they get used to the new
levels very quickly, and worse factor them in.
LB
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