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Sent: Thursday, January 30, 2003 1:33 PM
Subject: 01/30 1:31P (RT)Venezuela oil force majeure to last all
year-striker
> 01/30 1:31P (RT)Venezuela oil force majeure to last all year-striker
> Story 7036 (I/VE, I/CRU, I/PROD, I/SHP, I/NGS, I/LATAM, I/EMRG,
I/MEAST...)
> CARACAS, Venezuela, Jan 30 (Reuters) - Strike-hit Venezuela
> will probably have to keep a force majeure on oil exports for
> the rest of 2003 due to problems with output, refining and
> management in state oil company Petroleos de Venezuela (PDVSA),
> said PDVSA's former head of trading, who was fired for going on
> strike.
> Ciro Izarra was responding to PDVSA President Ali
> Rodriguez, who said earlier on Thursday the force majeure,
> meaning the company can no longer fulfill its contractual sales
> agreements, could be lifted at the end of February.
> "I don't think they will be able to lift it all year,
> because if they do they will be in big problems," Izarra told
> Reuters in an interview. "This is a complex problem which
> requires lawyers, managers and negotiators to avoid law suits,
> but they have fired all of us," he added.
> PDVSA has about a million barrels per day of crude oil
> exports under long-term contracts affected by the force
> majeure, which was declared soon after the beginning of the
> 60-day-old strike.
> Even in the event of a partial lifting of the force
> majeure, Izarra said PDVSA would have to supply all contract
> holders equal proportions of their volumes, which would need
> management and coordination which the company no longer has.
> PDVSA President Ali Rodriguez has fired more than 5,000
> PDVSA managers and technicians in an attempt to break the
> strike, which aims to force President Hugo Chavez to resign and
> call early elections.
> ((Reporting by Tom Ashby; Editing by Dave Zimmerman;
> Reuters Messaging: thomas.ashby.reuters.com@xxxxxxxxxxx; Email:
> thomas.ashby@xxxxxxxxxxx; +58 212 277 2655))
> REUTERS
> Rtr 13:31 01-30-03
> Additional Codes ( I/OPEC, H/)
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