The Washington Post reports today that Venezuela’s state-owned oil company, PDVSA, will be taking control of the country’s largest development projects:
In the past two years, Venezuela, like energy-rich countries from Russia to Bolivia, has exerted increasing control over its oil. But now, Chavez’s administration will take its biggest leap yet, with the state oil company assuming a 60 percent stake in four projects previously run by multinationals, including ExxonMobil, ConocoPhillips and Chevron.
Click here for the full article.
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