Venezuela oil strategy
Thursday, August 03 - 2006 at 07:37
Venezuela is raising royalties, taxes and government equity in dozens of oil projects, which analysts say could turn private oil companies into silent partners in a government run oil business, according to the Dallas Morning News. Venezuela's proven reserves, 79.7m barrels, rank 7th in the world. It could take the top spot from Saudi if even 10% of its 3 trillion barrels of Orinoco belt oil is economically recoverable.
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James McInerney, News EditorThursday, August 03 - 2006 at 07:37 UAE local time (GMT+4)
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This Article was updated on Tuesday, March 27 - 2007
Index : Energy, Oil and Gas
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