CARACAS, Venezuela (Feb. 10) - President Hugo  Chavez on Sunday threatened to 
cut off oil sales to the United States in an  "economic war" if Exxon Mobil  
Corp. wins court judgments to seize billions  of dollars in Venezuelan assets.

Exxon  Mobil has gone after  the assets of state oil company Petroleos de 
Venezuela SA in U.S., British and  Dutch courts as it challenges the 
nationalization of a multibillion dollar oil  project by Chavez's government. 

A British court has issued an injunction  "freezing" as much as $12 billion 
in assets. 

"If you end up freezing  (Venezuelan assets) and it harms us, we're going to 
harm you," Chavez said  during his weekly radio and television program, 
"Hello, President." "Do you know  how? We aren't going to send oil to the United 
States. Take note, Mr. Bush, Mr.  Danger." 

Chavez has repeatedly threatened to cut off oil shipments to  the United 
States, which is Venezuela's No. 1 client, if Washington tries to  oust him. 
Chavez's warnings on Sunday appeared to extend that threat to attempts  by oil 
companies to challenge his government's nationalization drive through  lawsuits. 

"I speak to the U.S. empire, because that's the master:  continue and you 
will see that we won't sent one drop of oil to the empire of  the United States," 
Chavez said Sunday. 

"The outlaws of Exxon Mobil will  never again rob us," Chavez said, accusing 
the Irving, Texas-based oil company  of acting in concert with Washington. 

A U.S. Embassy spokeswoman did not  immediately return a call seeking 
comment. 

Venezuelan Oil Minister  Rafael Ramirez has argued that court orders won by 
Exxon Mobil have "no effect"  on the state oil company PDVSA and are merely 
"transitory measures" while  Venezuela presents its case in courts in New York 
and London. 

Exxon  Mobil is also taking its claims to international arbitration, 
disputing the  terms it was granted under Chavez's nationalization last year of four 
heavy oil  projects in the Orinoco River basin, one of the world's richest oil 
deposits.  

Other major oil companies including U.S.-based Chevron  Corp.,  France's 
Total, Britain's BP PLC, and Norway's StatoilHydro ASA have negotiated  deals with 
Venezuela to continue on as minority partners in the Orinoco oil  project. 

ConocoPhillips  and Exxon Mobil, however, balked at the  tougher terms and 
have been in compensation talks with PDVSA.




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