Venezuela's Oil Industry Is Slowly Recovering.

Knight Ridder/Tribune Business News | March 1, 2003 | Copyright

By Patrice M. Jones, Chicago Tribune Knight Ridder/Tribune Business News

Mar. 1--CARACAS, Venezuela--The lifeblood of Venezuela's economy, its oil industry, is slowly rebounding, analysts say, after a crippling strike disrupted exports to the United States and left Venezuela's president clinging to power.

Venezuela's energy minister, Rafael Ramirez, had a rosy forecast for Washington officials last week. He described the emergence of a reorganized, leaner, better-run state oil company that is recovering well despite operating with about 40 percent ...

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