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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.


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IISS: The FARC financed Chávez before 1999

10:07 AM. DIPLOMACY. Admired by the Colombian guerrilla after his coup attempt in 1992, the then lieutenant colonel Hugo Chávez Frías received financial support by the Colombian Revolutionary Armed Forces (FARC) for his projects after his capture that year. This mostly explains the relationship and "debt" between the parties, as revealed by a paper of the International Institute for Strategic Studies (IISS) of the United Kingdom.

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