"Event" affects Venezuela refinery
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CARACAS, Venezuela  - Venezuelan state oil company PDVSA said on Saturday an "operational event," which witnesses said was an explosion, had affected a unit of the 640,000 barrel per day (bpd) Amuay refinery.
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Oil refiner Giant Industries Inc.  said on Sunday a fire occurred at its refinery in Yorktown, Virginia, on Saturday morning.
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Venezuelan President Hugo Chavez threatens to cut off his country's oil shipments to the United States if a court ruling goes forward ordering Venezuelan assets be frozen in a case brought by Exxon Mobil.
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Venezuela could sue Exxon Mobil  for not paying taxes on some of the oil it produced, President Hugo Chavez said on Sunday, amid an escalating legal battle with Exxon over compensation for nationalized assets.
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Exxon Mobil Corp  has won court  orders freezing up to $12 billion in Venezuelan assets around  the world as it fights for compensation for operations lost to  President Hugo Chavez's nationalization drive.
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An accidental chemical release from Valero Energy Corp.'s Houston refinery on Wednesday sickened dozens of workers and triggered a warning for nearby residents to evacuate.
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Venezuelan President Hugo Chavez on Thursday set a May Day deadline for the world's biggest oil firms to surrender their control of multibillion-dollar crude projects, speeding up nationalizations a day after receiving powers to rule by decree.
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PetrÃ³leo Brasileiro, the Brazilian energy company known as Petrobras, canceled a meeting of its executives and Bolivian government officials after Bolivia took steps this week to take over the companyÂs oil operations in the country. Petrobras said the Bolivian measures, which included the takeover of two refineries, the only ones in Bolivia, and its distribution system, would render its Bolivian operations Âunviable.Â The meeting had been scheduled for Friday.
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Exxon Mobil Corp has moved to freeze up to $12 billion in Venezuelan assets around the world as the U.S. company fights for payment in return for the state's takeover of a huge oil project last year.
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The company said lower refining margins and gas prices were exacerbated by disruptions at some refineries.
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WHILE India was celebrating its Independence Day, another important event was taking place on the other side of the world, in Venezuela.
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President Hugo Chavez on Sunday threatened to stop sending oil to the United States if it continued to attack Venezuela as he said it had done through an Exxon Mobil  lawsuit that has frozen the assets of the OPEC nation.
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CARACAS, Venezuela  - Venezuelan President Hugo  Chavez on Friday froze bilateral accords and business deals  with Colombia in retaliation for a Colombian police operation  that abducted a top Colombian Marxist rebel from Venezuela.
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NYMEX crude oil futures soared to a record of &#36;46.90 a barrel on Monday on concerns about possible unrest and disruption to oil supply as Venezuelans voted in large numbers on whether to recall President Hugo Chavez.
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Venezuela's plan to strip some of  the world's biggest oil companies of their controlling stakes  in the heavy oil projects of the country's Orinoco Belt is a  "disturbing trend" that could harm the OPEC member's economy, a  U.S. Energy Department spokesman said on Thursday.
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A top U.S. diplomat warned Friday that Venezuela cannot afford to drive away the major oil companies affected by President Hugo Chavez's decision to takeover the nation's most promising oil-producing operations.
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NYMEX crude oil futures  hit a new record of &#36;46.76 on Monday on worries about possible unrest and disruption to oil supply as Venezuelans voted in a referendum on whether to recall President Hugo Chavez.