PDVSA May Invest $25 Billion in Orinoco Oil Projects with Statoil, Total Sep 24, 2009
Venezuela is seeking to develop the Orinoco Belt, a heavy crude-oil producing region stretching along the Orinoco River, as output falls from existing Lake Maracaibo fields. Venezuela, the biggest oil exporter in Latin America, aims to increase output to 4. (Bloomberg -- Latin America)
Oil unions condemn socialist demands in Venezuela Jul 16, 2009
After nationalizing four major oil projects in 2007, he seized more than 70 foreign and domestic oil contractors in May, many of which operated boats and docks on western Lake Maracaibo. Cortez, who represents workers in Lagunillas, one of the most affected areas, said "very few" of the nationalized companies are operating because about a third of the 8,000 workers affected are waiting to be absorbed by PDVSA.. (OregonLive, OR -- News)
Nationalised Jun 23, 2009
Page last updated at 07:16 GMT, Tuesday, 23 June 2009 08:16 UK. Oil workers urge Chavez to pay. (BBC News -- Business)
Oil Is Plentiful, Demand Weak. Why Are Gas Prices Going Up? May 29, 2009
Oil installations in Lake Maracaibo, Venezuela. Chico Sanchez / EPA / Corbis. (Time.com)
Venezuela Expropriating 35 Oil Service Firms May 21, 2009
The Energy Ministry detailed the takeovers - mostly in the northwestern Lake Maracaibo area - in the government's official gazette. The companies include staff and material transport firms, as well as dock maintenance companies. (SmartMoney)
* Venezuelas oil firm nationalizing 39 industry contractors May 13, 2009
They provide transport boats and other services on Lake Maracaibo ... Chavez said on Friday that his government was nationalizing some 60 companies as he oversaw the takeovers of boats, docks and other facilities on Lake Maracaibo. (Taipei Times, Taiwan -- Sports)
Venezuela nationalises 60 oil contractors May 9, 2009
He said companies to be nationalized under a new law will include SIMCO consortium, which has worked injecting water into oil fields in western Lake Maracaibo for the past 10 years ... "SIMCO consortium disappears today," Chavez said in a televised speech from a harbor in Lake Maracaibo, where he oversaw the seizure of 300 boats, docks and other assets belonging to oil contractors ... The law approved by Venezuela's largely pro-Chavez National Assembly on Thursday covers companies that provide... (The Star Online, Malaysia)
Chavez seizes oil service firms May 9, 2009
"This is a revolutionary offensive," he told workers near Lake Maracaibo, Venezuela's main oil-producing area. Military vehicles were used as the state oil company seized supply boats and two US-owned gas facilities. (BBC News -- Business)
* World News Quick Take May 9, 2009
Chavez said the takeovers would start yesterday in the Lake Maracaibo oil heartland. Tomorrow [Friday] we will start to recuperate assets and goods that will now belong to the state, as social property, as they should always have been, Chavez said, adding that thousands of workers would be taken on by state oil company PDVSA.. (Taipei Times, Taiwan -- World)
Chavez Moves to Take Over Assets of Oil Services Companies in Venezuela May 8, 2009
May 8 (Bloomberg) -- Venezuelan President signed a law to allow the government to seize assets from oilfield services companies and said hell start taking over boats and docks on Lake Maracaibo today ... Oil and Energy Minister said the state oil company today will seize 300 boats, 61 diving boats and 39 terminals and docks and other assets used by the oil industry on Lake Maracaibo in Venezuelas western Zulia state. (Bloomberg -- Latin America)
Venezuela Pres. Chavez to seize some oil contractors under new law May 8, 2009
He said PDVSA will seize 300 boats as well as dozens of docks and other transportation installations in western Lake Maracaibo on Friday, and absorb the 8,000 workers affected ... The companies covered by the legislation provide such services as natural gas processing, the injection of natural gas or water into oil fields to improve recovery, and management of docks and boats on Lake Maracaibo ... PDVSA has already taken over the operations of some companies that have claimed a default,... (USA Today -- Money)
Chavez extends state oil industry May 8, 2009
Most of the nationalisations are expected to take place in region of Lake Maracaibo, in the oil-rich state of Zulia - the centre of Venezuela's oil production. This is not the first time Mr Chavez has taken over private oil assets, he pushed through a series of nationalisations of foreign energy companies in 2007. (BBC News -- Business)
Law may ley Venezuela take over oil contractors May 6, 2009
The companies covered by the legislation provide such services as natural gas compression, the injection of natural gas or water into oil fields to improve recovery, and management of docks and boats on western Lake Maracaibo. Venezuela relies on oil for 93 percent of its export revenue and has seen world oil prices slide 63 percent since their July peak. (Atlanta Journal-Constitution)
Why Obama Should Talk to Chávez Feb 21, 2009
Since then, of course, U.S.-Venezuela relations have plummeted farther than a Lake Maracaibo oil drill. Both sides share the blame. (Time.com)
