Heavy Oil Investing News » Venezuala’s Oil Output squeezed by Chavez’s Heavy Hand

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

May 13, 2009 @ 8:31 am In Heavy Oil Company News

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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