Venezuala’s Oil Output squeezed by Chavez’s Heavy Hand

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Wed, May 13, 2009
Heavy Oil Company News
Post by Melissa Pistilli, Heavy Oil Senior Reporter

Venezuela’s oil output is already below 1997 levels, but could dip significantly lower as the country’s president, Hugo Chavez, has alienated oil service companies by refusing to pay their fees, and in some cases, seizing their assets.

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