CARACAS, Venezuela — President Hugo Chavez sent a soothing message to American motorists Sunday, saying Venezuela is not preparing to cut off oil shipments to the United States.
The socialist leader rattled oil markets last week when he threatened to halt shipments to the United States in retaliation for Exxon Mobil Corp.’s success in persuading courts in the U.S. and Europe to freeze Venezuelan assets.
“We don’t have plans to stop sending oil to the United States,” the socialist leader said during a visit to heavy-oil projects in Venezuela’s petroleum-rich Orinoco River basin that were nationalized last year.
But he added that Venezuela could cut off supplies to the United States if Washington “attacks Venezuela or tries to harm us.”
Chavez has repeatedly warned against a possible U.S. invasion he says Washington would use to seize control of Venezuela’s oil reserves.
U.S. officials have denied any such plan exists.
The United States relies on Venezuela for about 10 percent of its oil imports.
The administration of Chavez — a close ally of Cuban leader Fidel Castro — is locked in a legal battle with Irving, Texas-based Exxon Mobil over compensation for the nationalization of one of four heavy-oil projects in the Orinoco River basin.
Exxon Mobil — the world’s largest publicly traded oil company — is seeking to freeze billions of dollars in Venezuelan assets in the United States and Europe to guarantee a payoff in the event it wins a decision by an international arbitration panel.
