OTC Houston Conference: New PDVSA chiefs can't speak or understand English

<a href=www.vheadline.com>Venezuela´s Electronic News Posted: Monday, May 12, 2003 By: Patrick J. O'Donoghue

During his stay in Bolivar State, President Chavez Frias met the Petroleos de Venezuela (PDVSA) board, Energy & Mines (MEM) Minister Rafael Ramirez and Development & Planning (Cordiplan) Minister Jorge Giordani to discuss the second phase of PDVSA restructure.

Chavez Frias says the second stage will pursue the objective of placing the company at ther service of the country and not "the elites that kidnapped the industry" during the Fourth Republic.

PDVSA production is placed at 2.6 million bpd compared to 3.4 million bpd before the national stoppage. But PDVSA currently has the largest debt in its history with $3-5 billion owed service companies, oil carriers and suppliers.

Meanwhile, in a Houston Chronicle editorial hatchet job by Michael J. Economides and Ronald E. Oligney, both "old" and "new" PDVSA attended the Offshore Technology Conference (OTC) in Houston.

The writers criticized the new crowd consisting of some retirees and ex-employees and a majority that has no credentials, except revolutionary fervor.

However, the fact that none of the delegates spoke or understood English is seen as a major block for anyone attending a major international oil business meeting ..."it was a struggle for some to get their first-time US business visas for the OTC show" ... the extremely negative editorial calls President Hugo Chavez Frias a "Fidel Castro wannabe" and a friend of other nose-thumbers at the USA: Saddam Hussein, Cadafe and Khatami ... Illich "Carlos the Jackal" Ramirez Sanchez' brother in a high-ranking official at MEM Ministry.