Exxon to resume loading oil from Venezuela

www.canada.com CanWest News Services Wednesday, February 19, 2003

ExxonMobil Corp., the world's largest publicly traded oil company, will resume loading oil from Venezuela's Jose port, the first U.S. company to do so since a strike began Dec. 2.

The Therassia will load 525,000 barrels of synthetic crude from ExxonMobil's heavy-oil Cerro Negro joint venture, said Ruben Rodriguez, the port's loading manager for state-oil company Petroleos de Venezuela SA. The U.S. company made the decision after an evaluation of the port, Rodriguez said.

"The port is safe, and we're hoping other companies start loading as well," said Rodriguez. "We're in talks with Shell."

The shipment represents a blow to oil strikers who are in 79th day of a strike aimed at toppling President Hugo Chavez. The strikers have been able to reduce the country's oil exports by staying off the job and claiming that the ports are unsafe, which has led many companies to refuse to send tankers to Venezuela.

ExxonMobil spokesman Richard Bailey declined comment.

U.S.-based Valero Energy Corp. will also send the tanker Tatriz to Jose on Feb. 21 to pick up synthetic crude from the Sincor heavy oil joint venture, Rodriguez said.

Since the strike began Dec. 2, only tankers owned by, or chartered to, state-oil company Petroleos de Venezuela or the Cuban oil company, have used Jose.

Jose was shipping about 700,000 barrels a day before the strike started.