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Context of 'February 3, 2003: Strike Ends in Venezuela'

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A “strike” (referred to by some as an employers’ lockout) organized by Venezuela’s employers begins. [Venezuela Analysis, 12/3/2002; St. Petersburg Times, 12/11/2002]

Timeline Tags: US-Venezuela (1948-2005)

February 3, 2003: Strike Ends in Venezuela

A strike in Venezuela (see February 3, 2003) ends after 63 days. Although some oil workers continue striking, oil output slowly returns to a level about half of pre-strike production. [BBC, 2/3/2003]

Timeline Tags: US-Venezuela (1948-2005)

For the two-month duration of a strike in Venezuela (see February 3, 2003), the only commercials on Venezuelan TV are pieces by the opposition attacking President Hugo Chavez. [Adage, 2/10/2003]

Timeline Tags: US-Venezuela (1948-2005)

President Hugo Chavez announces that the Venezuela controlled oil company, Petroleos de Venezuela, may sell eight oil refineries owned by US companies. Four of them are owned by Citgo Corporation and are currently used to refine Venezuela’s heavy, high-sulfur crude oil for use in the US. This move is part of a strategy to reduce Venezuelan dependency on US oil markets. At his speech in Argentina, Hugo Chavez describes Venezuelan dependency: “Not one Venezuelan works at these refineries… they don’t give us one cent of profit… they don’t pay taxes in Venezuela… this is economic imperialism.” Ivan Orellana, Venezuela’s representative to OPEC says that any “contracts found to be not in the national interest would be renegotiated.” [Bloomberg, 2/2/2005] The Venezuelan oil industry currently exports half of its oil to the US. [New York Times, 1/25/2005] This latest move is an indication to the Bush administration that the Chavez government is willing to test their relationship. US officials are worried about the implications of the sale for the American economy as 15 percent of US oil imports currently come from Venezuela. White House spokesman Scott McClellan says, “we have serious concerns. We have made our concerns known when it comes to President Chavez….” [Bloomberg, 2/2/2005]

Entity Tags: Hugo Chavez Frias, Scott McClellan

Timeline Tags: US-Venezuela (1948-2005)

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