Several private oil companies operating in Venezuela have cut production in an effort to pressure the government to abandon plans to nationalize portions of the companies. The Venezuelan government announced its intent to force private companies operating in any of 32 oil fields to renegotiate its terms with the government and sign joint-venture agreements. (BusinessWeek)
Wednesday, November 16, 2005
Oil companies in Venezuela protest nationalization efforts
Several private oil companies operating in Venezuela have cut production in an effort to pressure the government to abandon plans to nationalize portions of the companies. The Venezuelan government announced its intent to force private companies operating in any of 32 oil fields to renegotiate its terms with the government and sign joint-venture agreements. (BusinessWeek)
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