VENEZUELA: Venezuelan opposition candidate Henrique Capriles says he will stem the flow of free oil from the South American country to its allies

Record ID: 344226

  • Title: VENEZUELA: Venezuelan opposition candidate Henrique Capriles says he will stem the flow of free oil from the South American country to its allies
  • Date: 2nd August 2012
  • Summary: PUERTO LA CRUZ, VENEZUELA (AUGUST 01, 2012) (REUTERS) HENRIQUE CAPRILES, OPPOSITION PRESIDENTIAL CANDIDATE, WALKING WITH SUPPORTERS ON CAMPAIGN TRAIL CAPRILES SUPPORTERS SHOUTING SUPPORTERS PLAYING DRUMS VARIOUS OF CAPRILES PREPARING TO GIVE A SPEECH WOMAN WEARING HAT WITH CAPRILES' CAMPAIGN SLOGAN - THE BUS OF PROGRESS (SOUNDBITE) (Spanish) PRESIDENTIAL CANDIDATE, HENRIQUE CAPRILES, SAYING: "As of January 10, 2013, not a single barrel of Venezuelan oil will be given away to other countries. We will not give away even one barrel of oil. As long as there is even one town here in Venezuela that needs it, we will not send any oil to fund other countries." CAPRILES SUPPORTERS WAVING FLAGS CAPRILES GIVING SPEECH DURING RALLY
  • Embargoed: 17th August 2012 13:00
  • Keywords:
  • Location: Venezuela, Bolivarian Republic of
  • Country: Venezuela
  • Topics: Politics
  • Reuters ID: LVABM8J66FTPQJ9F0REZCOLHPQFU
  • Story Text: Venezuelan opposition leader Henrique Capriles said on Wednesday (August 1) he would scrap preferential oil deals with foreign allies if he defeats socialist President Hugo Chavez in an October election to lead the South American OPEC member.
    Chavez has sought to boost his influence abroad by offering crude deals to nations in Asia, Latin America and the Caribbean -- Venezuela's state oil company PDVSA was not paid directly for almost half the crude it pumped last year.
    In Capriles' first major speech on his future oil policy, the 40-year-old said stopping Chavez's deals for crude on credit or in exchange for other goods would save $6.7 billion annually, which would be invested in new social programs.

    "As of January 10, 2013, not a single barrel of Venezuelan oil will be given away to other countries. We will not give away even one barrel of oil. As long as there is even one town here in Venezuela that needs it, we will not send any oil to fund other countries," Capriles said during a campaign stop a few kilometers from the Puerto La Cruz refinery.
    The former state governor said Argentina, Belarus, Cuba, Jamaica, Dominican Republic and Uruguay would stop receiving oil on preferential terms.
    Capriles promised to use the extra resources from stopping preferential deals, plus money from a planned doubling of production between 2013 and 2020, to fund programs such as raising benefits for pensioners, scholarships for mothers of handicapped children, and education.
    In 2011, state oil company PDVSA was not paid directly for 43 percent of its barrels of crude and oil products.
    Many of the agreements are criticized by his opponents, especially those signed over the last decade with China, Cuba, Argentina, Uruguay, and the more than a dozen countries that are members of Venezuela's Petrocaribe supply program.
    Chavez -- who underwent three operations for cancer over the last year -- is seeking re-election for a third term on October 7 to extend his self-styled socialist revolution. Most opinion polls give him a double-digit lead.
  • Copyright Holder: REUTERS
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