President Hugo Chávez Wednesday warned that if the United
States attacks Venezuela to take control of its oil, he would
blow up the oil fields, as the Iraqis did in Kuwait.
Chávez claimed that an invasion to Venezuela is being plotted in the US in order to seize its gas and oil riches, which is denied by Washington, reported Reuters.
"If Venezuela is attacked, we will do the same the Iraqis did, since there would be no alternative left, but to blow up our own oil fields, so they do not take our oil… If we are attacked, there would be no oil for nobody," Chávez said during a working meeting with the Presidents of Bolivia, Uruguay, and Paraguay, Evo Morales, Tabaré Vázquez, and Nicanor Duarte, respectively, in Asunción, Paraguay's capital city.
OIL The price of the Venezuelan oil basket lost USD 1.86 this week, ending at USD 68.97, the Venezuelan Ministry of Petroleum and Mining reported.
HYDROCARBONS Venezuela's state run oil company Petróleos de Venezuela (Pdvsa) would be willing to cut its crude oil output to stop the fall of oil prices if the Organization of the Petroleum Exporting Countries (OPEC) makes such a decision in its upcoming meeting scheduled for next week, said on Thursday Venezuelan Foreign Minister Rafael Ramírez.
OIL Russia and Venezuela discussed joint actions to fight falling oil prices, Russian Energy Minister Alexander Novak said on Tuesday after holding talks on Monday with Venezuela's Foreign Minister Rafael Ramírez.