1.
SV Simon Bolivar status in Belgrave Square
0.03

2.
SV Perez out of car, greeted by officials
0.13

3.
CU Lifeguards
0.16

4.
Perez walking to status (2 shots)
0.27

5.
SV Perez lays wreath at statue base (3 shots)
0.45

6.
CU Wreath, Perez standing in front as Lifeguards' trumpeters play fanfare (2 shots)
0.56

7.
SV & CU Perez leaving (2 shots)
1.09

8.
SV & CU Perez standing inside South American Culture Centre (3 shots)
1.18

9.
GV EXTERIOR Cultural centre (3 shots)
1.41


In recent weeks Venezuela has adopted an increasingly moderate position in the debate on oil prices which is leading up to the OPEC meeting on 15 December. President Perez has said that oil plays a small role in global inflationary trends with much of the blame resting on the price increase of manufactured goods sold to developing nations. The President believes industrialised nations must pledge a halt to price increases for their manufactured goods which are vital to Third World countries before oil exporters can agree to similar action.




Initials BB/2105



Script is copyright Reuters Limited. All rights reserved

Background: The President of Venezuela, Carlos Perez, arrived in London on Monday (22 November) for oil talks with British leaders.

SYNOPSIS: On Tuesday (23 November) President Perez laid a wreath to honour the memory of Venezuelan born liberator. Simon Bolivar, whose efforts led to the freeing of six South American states from Spanish rule. A detachment of Lifeguards formed a guard of honour for the ceremony which took place at the Simon Bolivar statue in Belgrave Square. The main subject of President Perez' talks will be oil. He's reported to have told Britain's Prime Minister. James Callaghan, that he would support an increase in world prices. However, he gave no indication of the percentage increase that Venezuela would support. The matter will be discussed at a meeting of OPEC --- the Organisation of Oil Exporting Countries --- on 15 December.

Later on Tuesday, President Perez visited the nearby Hispanic and Luso Brazilian Council Building. He is reported to have said during his initial talks on Monday that world inflation had eroded 32 per cent of his country's oil exports. Venezuelan officials are reported to believe that Britain may soon alter her stand against a rise in oil prices.

British officials are understood to have said a rise in oil prices would paralyse the world's recovery from economic depression. However the Venezuelans believe that with Britain on the threshold of becoming an oil exporter, utilising its North Sea field, it should support rather than oppose higher prices. They feel that oil could become the means by which Britain might extract itself from its current economic troubles, and join the ranks of the oil producers.