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Chavez:
50 a Barrel for Oil is Fair
Venezuelan President Hugo Chavez
said fixing the price of a
barrel of oil at 50 dollars is
fair, according to statements
for the BBC and quoted Monday by
Great Britain’s The Guardian
daily.
Venezuela has “the world´s
largest hydrocarbon reserves,”
enough for about 200 years, the
president added.
A long-term agreement at that
price will allow Caracas to
count its crude oil deposits,
both heavy and extra-heavy, as
part of its official hydrocarbon
reserves, thus adding 235
billion barrels to the country´s
active supplies.
The price mentioned by Chavez is
15 dollars below the current
one, which reached a record high
of 70.85 dollars a barrel in
August last year, the source
read.
Venezuelan Energy Minister
Rafael Ramirez told the BBC
Caracas plans to ask the
Organization of Petroleum
Exporting Countries to
officially recognize a rise in
its reserves.
That way, stocks would amount to
315 billion barrels of oil, thus
surpassing those of Saudi
Arabia, the world´s current
leader with 262 billion barrels.
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