Execs of Venezuela state oil company prepare defiance of Chavez on shipments to Cuba

["Fred Feldman" <ffeldman@xxxxxxxxxxxxxxxx>]

: [CubaNews]
Venezuela PdVSA Execs To Protest Oil Shipments To Cuba
DOW JONES NEWSWIRES

CARACAS -- Top level managers at Venezuela's state oil
monopoly Petroleos de Venezuela SA (E.PVZ), or PdVSA, will
soon publish a letter protesting the resumption of oil sales
to Cuba , a person at the company told Dow Jones Newswires
Thursday.

The executives refuse to authorize the deal because it's
illegal, given it doesn't have congressional approval, the
person told Dow Jones Newswires on the condition of
anonymity.

As reported, Oil Minister Rafael Ramirez said the shipments,
suspended in April, would resume this week given Cuba has
agreed to a new payment schedule of a bad debt of $142
million.

But the tanker hasn't yet left port, the person at PdVSA
said.

PDVSA executives suspended shipments, which were agreed to
two years ago and account for a third of Cuba's oil imports,
during an April protest that culminated in President Hugo
Chavez's ouster. Chavez was reinstated two days later by
loyalist troops.

Observers say PdVSA executives critical of Chavez may use
the Cuba oil shipments issue to launch another work stoppage
in conjunction with labor unions and business chambers,
whose leaders have said they'll likely push for a nationwide
strike by October aimed at ousting Chavez permanently.

PdVSA Website:http:www.pdvsa.pdv.com

-By Jehan Senaratna, Dow Jones Newswires; 58212-5641339;

jehan.senaratna@xxxxxxxxxxxx

Updated September 5, 2002 10:23 a.m. EDT




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