Chavez Nationalizes Orinoco Oil Projects
The move, which has been expected for some time now, affects Exxon Mobil Corp., Chevron Corp., BP Plc., ConocoPhillips Co., Total SA and Statoil ASA, all of which have stakes in the projects.
The projects must be “in the hands of the Republic and not in the hands of transnational corporations,” Chavez said.
He added that the country’s state oil...
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