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Venezuela speeds up transfer of oilfields to friendly countries

Dozens of multinational companies that have previously worked in the OPEC’s member country must resign themselves to have small projects pending the bidding of several heavy oil projects in the Carabobo Project, which was suspended on June

Energy
Despite having one of the highest risk ratings in the region and President Hugo Chávez's strong anti-capitalist rhetoric, dozens of foreign oil companies are lining up to operate in Venezuela.

And there is no better credential that arriving in Venezuela backed by a government "close" to President Chávez. Five of the nine countries that the Venezuelan leader has visited in his tour —Iran, Russia, Belarus and Spain— have billionaire oil interests in Venezuela, while there are few South American countries without a block in the Orinoco Oil Belt. One exception is Colombia, which was banned after the recent political conflict with Chávez.

Meanwhile, dozens of multinational companies that have previously worked in the OPEC's member country must resign themselves to have small projects pending the bidding of several heavy oil projects in the Carabobo Project, which was suspended on June.

"We are aware that there are two processes simultaneously, but one should not affect the other," a senior official of the Ministry of Energy and Petroleum told Reuters.


On the Cover

Bases of discord

04:17 PM. Western Hemisphere. "Damned empire; I curse you one thousand times; some day you will be finished off and wrecked. I curse you one thousand times, empire." This is the least that President Hugo Chávez has uttered to refer to the US government. In urging the Bolivarian Armed Forces to prepare for war, he said that a US raid on Venezuela through Colombia would trigger and spread over the region "the 100-year war."