CARACAS, Monday February 11, 2008 | Update
The United States expects the Venezuelan government to abide
by the international law in connection with a legal dispute
between US oil major Exxon Mobil Corp and Venezuelan state-run
oil giant Pdvsa, the US State Department said on Monday.
US State Department spokesperson Sean McCormack's comments
came following Venezuelan President Hugo Chávez's threat
to halt oil sales to the United States after a Exxon Mobil
won court orders to freeze USD 12 billion in Pdvsa's assets
and accounts, Reuters reported.
Exxon resorted to international courts after the Venezuelan
government nationalized in 2007 a heavy-crude oil project
the US firm operated in the Orinoco oil belt.
"This has an economic nature. There is a legal process under
way between Exxon and the government of Venezuela. This has
to continue and has to be solved under the internationally
existing and accepted laws and standards. We would expect
that the Venezuelan government respects those laws and standards
(in its legal battle) with Exxon," McCormack told reporters.
Regarding Chávez's threat, the official replied, "This
is something he has said before."
Chávez has threatened several times to stop oil shipments
to the United States -the world's largest energy consumer.
But so far, he has kept oil sales unchanged, despite repeated
clashes with Washington.
02:57 PM. HEAVY RAINS. Venezuelan Executive Vice-President Elias Jaua reported that the government is designing plans to support farmers, cattlemen and peasants of the state of Mérida who have been hit by heavy rains that have caused crop losses.