nationalisation at Oil Change

Archive for the 'nationalisation' Category

Chavez Nationalizes Last Foreign Oil Fields

0 Comments Published by Andy Rowell February 28th, 2007 in Latin American oil, nationalisation

Even more trouble for the oil majors. Venezuela’s President Chavez has announced a new law that nationalizes the last remaining oil production sites that are under foreign company control.
The nationalizations, which affect oil production in the heavy fuel Orinoco Oil Belt, will take effect on May 1st of this year, until which time companies may […]

Morales Follows his Friend Chavez

0 Comments Published by Andy Rowell December 4th, 2006 in Latin American oil, nationalisation

Continuing our Latin American theme today that shows the influence Chavez is having on the region. The Bolivian President Evo Morales has finally signed contracts giving the government control over foreign energy companies’ operations, completing a process begun May 1 with the nationalization of Bolivia’s petroleum industry.
The deals also give the government a majority share […]

Chavez Wins Runaway Victory

0 Comments Published by Andy Rowell December 4th, 2006 in Latin American oil, Oil, Politics, nationalisation

Hugo Chavez won a convincing re-election today, giving him another six years to solidify his self-styled socialist revolution and continue his anti-Bush campaign.
There is no doubt that Chavez has used Venezuela’s oil wealth to his political advantage. He has channeled oil profits toward multi-billion programmes for the poor, including subsidised food, free university education […]