Venezuelan President Hugo Chavez said on the 8th, the Government has already started to take over a group of oil companies, it has "historical significance."
Chavez was in the Lake Maracaibo region of Venezuela, the state-owned oil inspection is carried out to take over the operations of local oil workers said: "The cost of a barrel of oil production was 50 percent of those contracts before the contractor to take , into its own pockets. capitalists have most of the profits away. Now we have to reduce the number of oil companies, at the same time we will also reduce the production costs. In this way, the profits will stay in the workers here. "
On the 7th National Assembly of Venezuela approved a bill allowing the Government to take over a group of oil companies, and to permit the Government to replace the bond in cash, the compensation of the oil companies into receivership. The nature of the Venezuelan state-owned oil company to start on the 8th to take over the oil-producing area of Lake Maracaibo oil contractors were originally part of the 300 ships and other transportation equipment, but also will receive the 8000 employees involved.
Source: www.in-en.com May. 10, 2009
