Chavez Orders Foreign Oil Companies to ‘Give It Up’
President Hugo Chavez ordered by decree on Monday the takeover of oil projects run by foreign oil companies in Venezuela’s Orinoco River region.
He said Monday that has decreed a law to proceed with the nationalizations that will see state oil company Petroleos de Venezuela SA, or PDVSA, taking at least a 60 percent stake in the projects.
“The privatization of oil in Venezuela has come to an end,” he said on his weekday radio show, “Hello, President.”"This marks the true nationalization of oil in Venezuela.”
By May 1, “we will occupy these fields” and have the national flag flying on them, he said.
Oh, yes, Mr. Chavez is such a benevolent dictator….
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4 Responses to “Chavez Orders Foreign Oil Companies to ‘Give It Up’”
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February 26th, 2007 at 11:51 pm
I have long ago quit using Citgo and we must all do the same… Thanks Geekess for the post!
February 27th, 2007 at 7:30 am
Ditto.
February 27th, 2007 at 9:25 pm
Ditto. Hess, BP, Gulf, Sunoco distribute fuel made mostly with US and North Atlantic crude.
February 28th, 2007 at 7:25 pm
I knew I didn’t like Citgo for some reason….