Russian cosmonauts successfully complete spacewalkScience & Space August 18, 2:37
Krasnodar FC beats Crvena Zvezda 3:2 in Europa League play-off first leg matchSport August 17, 22:45
Putin offers condolences to King of Spain over Barcelona attackRussian Politics & Diplomacy August 17, 22:37
Russia condemns terror attack in BarcelonaRussian Politics & Diplomacy August 17, 21:32
Russian lawmaker calls on Europe to join efforts in war on terrorRussian Politics & Diplomacy August 17, 21:03
Australia-born track cyclist Perkins says excited to become Russian citizenSport August 17, 20:04
Van rams into pedestrians in BarcelonaWorld August 17, 19:33
Moscow sees chance to improve Russia-US tiesRussian Politics & Diplomacy August 17, 18:47
Russian cosmonauts launch several nanosatellitesScience & Space August 17, 18:42
CARACAS, October 8 (Itar-Tass) —— Venezuelan President Hugo Chavez has elaborated on his idea of ··creating an international organization composed of countries with large oil reserves. Speaking on Friday at the presidential palace Miraflores, he said that this organization could include six countries: Venezuela, Russia, Iran, Iraq, Saudi Arabia and Brazil. The organization could be called Oil Giants.
For the first time the leader of the Bolivarian revolution announced his idea in a teleconference held on Thursday between the presidential palace and the municipality of San Diego de Cabrutica in the Orinoco Oil Belt, where at the moment a delegation headed by Russian Deputy Prime Minister Igor Sechin was on a visit. Chavez said that the new organization would "by no means affect the activities of the Organization of the Petroleum Exporting Countries."
He explained "the idea is to consider creation of an organization of oil giants, whose number in the world does not exceed four or five."
In his speech on Friday Chavez said that Venezuela had the world's largest proven oil reserves, which amounted to almost 300 billion barrels.
"In the oil-rich Orinoco belt at the current rate of oil production it will last for 200 years,” he said. ‘Almost everywhere in the world oil will be over in 150 years’ time, but the Orinoco basin will still have much of it. Imagine what sort of pressures and risks our descendants will be subjected to."