November
20, 2003
Sales
agreement for US Strategic Reserve is about to
be reached
(El Universal) - "The agreement
to sell Venezuelan oil to the United States Strategic
Petroleum Reserve (SPR) is about to be reached.
Some sources said that Chevron Texaco had been
selected in order to carry out the operation with
Pdvsa, the Venezuelan State owned company, and
that it will set the transaction that will provide
Venezuelan oil (…).
Since 1977, the government
of the United States of America has kept oil reserves
in Texas and Louisiana. This reserves are used
as protection in case of a disruption on oil provision.
The White House has ordered an increase of 700
million barrels in this year's reserves (…)".
