US Energy chief worried over Venezuela oil imports [View All]

Source: Reuters

WASHINGTON, June 26 (Reuters) - U.S. Energy Secretary Sam Bodman said on Tuesday he was worried that U.S. oil and petroleum product imports from Venezuela could decline now that Exxon <XOM.N> and ConocoPhillips <COP.N> have decided to exit major oil projects in that country.

The two giant U.S. oil companies both have left huge crude projects in Venezuela's Orinoco Belt, after President Hugo Chavez acted to nationalize the projects as part of his socialist revolution. Venezuela is the No. 4 foreign petroleum supplier to the United States.

"I'm concerned," Bodman told reporters. When asked if he was worried U.S. oil and product imports from Venezuela could be reduced with the companies leaving, he said: "Sure, of course."

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