US Ambassador to Venezuela William Brownfield made a public statement on Thursday, saying the United States respects Venezuela's sovereignty in oil matters.

He said the US-Venezuela relationship in terms of trade and gasoline was "positive", and described the countries as natural partners for geographical reasons.

It was up to the Venezuelan government whether or not it wanted to retain or change its policies toward the United States, said the ambassador at a donation ceremony, adding that he did not expect any change.

On Wednesday, Venezuelan President Hugo Chavez said in Paraguay that Venezuela would blow up all its oil wells if the US ordered an invasion of his country, following US naval maneuvers in the Caribbean. He described the exercises as a new attempt by "the empire" to intimidate him.

Washington deployed an aircraft carrier and three other warships in the Caribbean in April, and exercises in the area will continue until the end of May. This comes at a time when US government officials have publicly stated their concern that Chavez is trying to influence the region's politics.

Venezuela, which has the largest gas fields in South America, also has the world's largest reserves of extra-heavy crude oils, in the Orinoco belt, which holds an estimated 325 billion barrels of oil.

(Xinhua News Agency April 21, 2006)