VENEZUELA NATIONALISES FUEL DISTRIBUTION
September 1st, 2008
BY KEITH NUTHALL
THE SOCIALIST government of Venezuela's president Hugo Chavez has nationalised the country's fuel distribution sector. It was the last part of the Venezuelan oil industry largely in private hands, being handled by dozens of companies, including some multinationals. Under a new law, these businesses will have to be sold to the state-owned Petróleos de Venezuela.
ENDS
THE SOCIALIST government of Venezuela's president Hugo Chavez has nationalised the country's fuel distribution sector. It was the last part of the Venezuelan oil industry largely in private hands, being handled by dozens of companies, including some multinationals. Under a new law, these businesses will have to be sold to the state-owned Petróleos de Venezuela.
ENDS
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