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  • bluecheese4u bluecheese4u Mar 5, 2008 7:13 AM Flag

    OPEC Set To Support Venezuela On Natural Resource Rts -Delegate

    OPEC Set To Support Venezuela On Natural Resource Rts -Delegate

    March 05, 2008: 06:56 AM EST


    VIENNA -(Dow Jones)- The Organization of Petroleum Exporting Countries is set to issue a resolution expressing support for Venezuela's sovereign rights over its natural resources, an OPEC delegate said Wednesday.

    The move comes amid an ongoing legal dispute between Venezuela and U.S. oil major Exxon Mobil Corp. (XOM).

    "OPEC will issue a resolution - or a press release - expressing support for Venezuela to exercise its sovereign right over its natural resources," the delegate said.

    The delegate said there appears to be broad consensus amongst member nations over the proposed wording of the resolution.

    The delegate also said the ministers' closed session will discuss some environmental issues, including Ecuador's request to be compensated for not drilling for oil in its Yasuni national park.

    http://money.cnn.com/news/newsfeeds/articles/djf500/200803050656DOWJONESDJONLINE000602_FORTUNE5.htm

 
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