Venezuela seeks energy alliance with Argentina

Jul 09, 2004 02:00 AM

Venezuela's President Hugo Chavez has announced that Argentina and Venezuela are promoting the creation of an interstate oil company to be called Petrosur.
Chavez said that the two governments "are taking some very important steps in this direction".

He announced that this proposal was one item on the agenda for his bilateral meeting with President Nestor Kirchner.
"We are working on a document which calls for taking another step towards the creation of Petrosur through an oil and energy alliance between Argentina and Venezuela. This will be a physical and real alliance." On the subject of energy, Chavez stressed that "Latin America's great energy potential must be used".

The Venezuelan ambassador to Argentina, Freddy Balzan, told that his country has now sent 50 % of the fuel oil it had committed in the agreement the two countries reached in response to the Argentine energy crisis.
The Venezuelan diplomat also spoke of the Venezuelan government's willingness to increase its fuel shipments if Argentina needs them.

Chavez commented on his "great expectations" both about his participation in the summit and about the meeting with his Argentine counterpart. He said he intends to propose a Latin American integration project, supporting the efforts which the president of the Commission of Permanent Representatives of Mercosur, Eduardo Duhalde, has been making.
"Argentina, Brazil and Venezuela are standing tall. We must make use of our strength to move forward with integration," Chavez said.

Source: Petroleumworld
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