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Page added on January 26, 2005

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In Venezuela, clouds are forming over oil

Venezuela may be increasing tension in energy markets with decisions that are confounding international oil companies, but the government there says it is merely seeking more income and new markets for its oil.
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Peter Hill, chief executive of Harvest Natural Resources of Houston, which gets all its oil from Venezuela, has one view of the policies unfolding there. Harvest’s stock lost a quarter of its value last week after the Venezuelan national oil company unexpectedly told it to suspend exploration efforts.
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www.iht.com



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