Adamant: Hardest metal
Thursday, February 13, 2003

Exxon Mobil to load syncrude cargo-PDVSA

www.forbes.com Reuters, 02.12.03, 12:57 PM ET

JOSE, Venezuela, Feb 12 (Reuters) - U.S. oil major ExxonMobil Corp (nyse: XOM - news - people) will load a cargo of synthetic crude between Feb. 19-21 from its strike-hit Cerro Negro syncrude project in Venezuela, an official from the country's state oil company PDVSA said on Wednesday. The lifting of the 520,000 barrel cargo apparently marks the first loading of crude from a Venezuelan port by a major international oil firm since early in a two-month strike by foes of President Hugo Chavez. Foreign companies had held off in loading at Venezuelan ports due to potential insurance risks that could be incurred by uncertified staff hired by the government to break the strike. Jose Port loading manager Rubin Rodriguez said that the vessel, Therassia, would load, but that Exxon Mobil would conduct a final audit of the port on Feb. 16. Chavez has used troops and replacement crews to try and restart the oil sector of the world's No. 5 petroleum exporter. But he and the striking workers give conflicting accounts of his success. He says crude production is nearing 2 million barrels per day, but strike leaders said on Wednesday output was at 1.398 million barrels per day. Opposition leaders started the strike on Dec. 2 to press Chavez to accept elections, but lifted the shutdown after two months as many businesses reopened. Chavez has fired more than 11,000 oil workers in a crackdown. But they are maintaining their protest.

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