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To: Copeland who wrote (26664)	7/28/1998 6:14:00 PM
From: P.Prazeres	Read Replies (1) \| Respond to of 95453

Venezuelan Oil Workers Threaten Strike Within Days Over Firings Caracas, July 28 (Bloomberg) -- Venezuela's largest oil workers' union said it may strike as early as next week to protest a wave of firings at the state oil company. Fedpetrol, the country's largest oil union, said state oil company Petroleos de Venezuela SA is firing workers as it scales back production to comply with cutbacks in output that form part of an agreement among oil producers to boost oil prices. Fedepetrol represents about 60,000 workers. ''There are too many layoffs,'' said Fedepetrol Secretary General Ilidio Velasquez. The union has scheduled a 10 a.m. press conference tomorrow to announce its plans. Venezuela has agreed to reduce its output by 525,000 barrels a day, following agreements among oil producers, cutting its production to 2.845 million barrels a day. The cuts are expected to be in place within weeks, leading to up to 3,000 firings, union officials said earlier. The earliest workers could go on strike would be next week as no strike request has been filed, Velasquez said. Under Venezuelan law, all strikes must be approved by the labor ministry, after a 120-hour cooling off period. A prolonged strike could disrupt oil production in Venezuela, which is the U.S.'s largest foreign supplier of oil. An oil workers' strike would also hurt the government, which is trying to keep the deficit at 3.3 percent of gross domestic product, or $3.3 billion. Earlier this month, a one-day strike scheduled by oil workers to show solidarity with striking petrochemical workers was canceled after the labor ministry created an arbitration board to achieve a new two-year collective contract.