OIL: CHAVEZ PROPOSE STRATEGIC ALLIANCE TO ITALY

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OIL: CHAVEZ PROPOSE STRATEGIC ALLIANCE TO ITALY

 

(AGI) - Roma, Italy, Oct.18 - A strategic alliance in the oil and gas sector was proposed to Italy by Venezuela president Hugo Chavez during his meeting with Industry undersecretary Giuseppe Galati.

 

"I already discussed it yesterday with my friend Berlusconi, and this morning with my friend Prodi". Venezuela is the 5th oil-exporting country in the world. "We used to be first, and even though we won't reach that position again, we are coming back, we are becoming strategically more important, and we want to supply oil and gas to Europe, and especially to Italy".

 

The reserves of black gold are gradually diminuishing, and demand is no longer sustainable, "unless we go searching for it on Mars", said Chavez. The US consumes about 20 mln barrels a day, Italy 3 mln. "Irrational consumption, oil fields are runnign out, and reserves of heavy crude will become more important, and we're the first country in the world in heavy crude reserves, with 300,000 mln barrels, plus, we have the technology to process it".

 

"We want to use oil to boost global economy, taking advantage of our geographical position, northern South America, near the Caribbean: an excellent meeting point between Europe and the US".

 

Chavez pointed out that the oil energy plan presented by his government for 2005-2015 "exceeds 60,000 mln USD", and that the country is making many joint ventures in this sector."We now need strategic investments".

 

Venezuela already made agreements with Brazilian company Petrolgas, China, Argentina, Uruguay, US gian Exxon Mobil and "we would also like to reach an agreement with Italy". (AGI) -

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