Shell executive:Not Worried By Venezuela; Oil Cos 'Disliked' In US

Venezuela's decision to suspend oil shipments to Exxon Mobil won't necessarily affect global supplies because the country could still ship oil elsewhere, an oil company executive said on Thursday. 'I'm not too worried about it,' John Hofmeister, president of Royal Dutch Shell PLC's (RDSA) U.S. operations, told reporters. 'Oil is traded globally, it moves globally, and for oil to be directed one way or another by arbitrary decrees of a nation doesn't necessarily change the amount of oil available in the total marketplace.' The Shell executive was wrapping up a 50-state tour, in which he and other executives have been promoting energy policy strategy. The campaign comes as oil prices that are close to record highs and global warming and geopolitical tensions are putting new political pressures on oil companies."