Chavez aims to expand Venezuela oil-supply pact

President Hugo Chavez on Sunday touted a pact that is delivering fuel to 17 nations, calling it a tool against poverty and dismissing accusations that he is giving away Venezuela's oil wealth. Hosting a summit, Chavez said Venezuela aims to 'continue strengthening' the Petrocaribe accord, calling it an 'anti-hunger shield' for Latin America and Caribbean countries. Under the accord, oil-rich Venezuela provides nations with fuel under preferential terms, including long-term loans and the option of paying partially with services or goods such as rice, bananas and sugar. The pact also has helped Chavez promote his vision of regional independence from the United States. 'We're in a political battle,' Chavez said, reading a statement by Venezuelan opponents who accused him of 'bribery diplomacy' and oil giveaways. He accused the opposition of aiding a U.S. 'psychological war' against him and mused: 'It's very probable this was written in the U.S. Embassy.'