Foreign Oil Companies Agree to Discuss Handover to Venezuela

Venezuela says two major foreign oil companies have agreed to discuss handing over their multibillion-dollar operations to the government in time for a May first deadline.

In a statement Thursday, Venezuela’s state oil company, PDVSA said it has formed transitional committees with U.S. oil corporations ConocoPhillips and Chevron. It said the committees will oversee the terms of the government takeover of projects in Venezuela’s Orinoco heavy crude belt.
Voice of America