Venezuela To Nationalize 11
Oil Drills Belonging To U.S. Company, Says
Minister
CARACAS - Venezuelan Energy and Oil
Minister Rafael Ramirez said on Wednesday
that the country plans to nationalize 11 oil
rigs belonging to U.S. company Helmerich and
Payne.
The sidelined oil drills will be used to
impulse oil production and strengthen the
country's sovereignty over oil industry,
said a statement from state oil company
PDVSA.
The announcement was made by Ramirez, also
the oil giant's president, at a press
conference in the oil-rich state of Zulia.
Venezuela has nationalized much of the
country's oil sector in the last three
years, a move President Hugo Chavez adopted
to strengthen control of national economy. |
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