03.07.2008, 14:47 2474

Chavez called South America to create its own OPEC

The President of Venezuela Ugo Chavez called the countries of South America, rich in hydrocarbons, to create their own Organization of Petroleum Exporting Countries (OPEC) Petrosur, the agency reports referring to news agency RosBusinessConsulting.

Almaty. July 3. Kazakhstan Today - The President of Venezuela Ugo Chavez called the countries of South America, rich in hydrocarbons, to create their own Organization of Petroleum Exporting Countries (OPEC) Petrosur, the agency reports referring to news agency RosBusinessConsulting.

The President of Venezuela has expressed confidence that prices for oil have stabilized at the level of $140 for a barrel and will not likely to decrease lower than $100 for a barrel. He also declared readiness of the country to allocate $1 of each sold barrel for support of South American farmers, RBC cites Associated Press.

Venezuela is one of OPEC founders and the explored stocks of 310 billion barrels make it one the richest in hydrocarbons countries of South America.

Chavez has recently repeatedly declared that the United States should bear the responsibility for a record oil prices rise, but not OPEC. U. Chaves declared that the USA tries to put the whole blame for oil price increase on OPEC member countries, whereas the real reason of such price increase is "USA unquenchable thirst for fuel."

"The USA administration tries to incite world community against OPEC," U. Chaves said.

The leader of Venezuela also considers that it is necessary to found a bank of OPEC member countries, which will become an alternative to the American influence in the world. In U. Chaves's opinion, the new financial organization could keep part of currency reserves of OPEC member countries.

This information may not be reproduced without reference to Kazakhstan Today

Found an error in the text?

Select the error and press Ctrl + Enter at the same time.

relevant news

Most viewed