Interests in common partnership between Venezuela and Brazil

<a href=www.vheadline.com>Venezuela's Electronic News Posted: Thursday, May 08, 2003 By: Jeremy Le Page

US YellowTimes.org correspondent Jeremy Le Page writes: As Venezuelans feel sharp economic strains following a recession from more than a year of political conflict, a commercial alliance is being sought between President Hugo Chavez Frias and Brazilian President Luiz Inacio Lula da Silva.

Reports indicate the two leaders are pursuing a partnership between state-owned oil firms -- Petrobras (Brazil) and Petroleos de Venezuela (PDVSA) ... both men say the neighboring countries have "interests in common," when it comes to the oil industry.

The alliance will secure cooperation in the oil sector for development, refining, commercialization, exploration and production of petroleum products.

Hopes are that the alliance between the nations will help the staggering Venezuelan economy. Many US experts are now suggesting that Caracas' economy is now "stable" when compared to previous months. Last year, Venezuela's oil output was reduced to 200,000 barrels per day ... operating at full capacity, the country is the 5th largest producer in the world.

But many Venezuelan groups say violence is again on the rise.

This follows a May 1 shooting spree in Caracas which resulted in the death of a man involved in an opposition march. Chavez Frias has since said the violence was the latest attempt by his opponents to overthrow his rule, while anti-Chavez supporters claimed the President's government was responsible for the shooting.

COFAVIC human rights group says violence is growing in Venezuela ... they state that 57 people have been killed and more than 300 injured since last year's failed coup ... almost all the killings remain unsolved.

Many of the anti-Chavez military that helped organize last year's coup d'etat have been seeking asylum in other South American countries. Meanwhile, the US is still pushing for a new election in the country.

Following consultations with the Organization of the Americas (OAS), the White House has said the best way to resolve the crisis in Venezuela is to hold early elections ... the next general election is currently scheduled for 2006.