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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: Think4Yourself who wrote (40022)	3/15/1999 4:07:00 PM
From: diana g	Read Replies (2) \| Respond to of 95453

Venezuelan oil unions will respect cut decision (K, We get good news coming left and right, and still can't get any respect! <VBG>) biz.yahoo.com CARACAS, March 15 (Reuters) - Venezuelan oil unions will respect the government's decision to cut another 125,000 barrels per day (bpd) of oil production although it is opposed to the policy, senior unionists said Monday. Energy and Mines Minister Ali Rodriguez approved the deeper cut after a meeting with other petroleum-producing states in The Netherlands, where 13 countries agreed to remove more than two million bpd from world crude markets. Asked if the union planned a strike to oppose the cuts, Aliceto Perez, executive secretary of the main oil union Fedepetrol, told Reuters: ''We are not talking about anything like that. This is a decision of the state and we have to respect it.'' The latest cut, which has still not been announced officially by the Venezuelan government, comes on top of a 525,000-bpd reduction approved last year. Fedepetrol has been complaining bitterly about the impact of the cuts on jobs in the sector. And in January, the union introduced a formal strike petition to the Labor Ministry, which was never followed through. Union power has been substantially reduced since President Hugo Chavez took office last month because he has denounced many as corrupt. The issue is under investigation by a congressional committee.