US backs ExxonMobil supply

Samuel Bodman (R) looks on during an announcement by U.S. President George W. Bush appointing him as Energy Secretary in the Roosevelt Room at the White House in Washington December 10, 2004. Bodman was former Deputy Commerce Secretary. REUTERS/Shaun Heasley

US Energy Secretary Sam Bodman: ready to help

SHAUN HEASLEY

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Damon Evans

 15 February 2008 01:59 GMT

US Energy Secretary Sam Bodman said that the US Strategic Petroleum Reserve would be available to ExxonMobil if needed, but he did not expect the company to have trouble replacing Venezuelan oil supplies.

Venezuelan President Hugo Chavez stopped oil exports to ExxonMobil on Tuesday, escalating a multi-billion dollar fight over a nationalised oil project with the US supermajor two days after threatening to cut off all crude supplies to the US.

Chavez made the threat after ExxonMobil applied for - and receieved - injunctions freezing of $12 billion in Venezuelan assets.

"My general understanding is we don't expect there to be a big problem, but we stand ready to make it (strategic reserve) available if it is required," Bodman told Reuters at a building industry convention…

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