US oil company abandons Venezuela

Venezuelan President Hugo Chavez has said a US oil company has abandoned oil wells in Venezuela during his nationalization drive this year.

The multibillion-dollar operations of Venezuela’s last privately run oil fields were taken over by the state oil company on May 1, Reuters reported Thursday.
However, trumpeting the nationalization of the sector, Chavez has given the companies involved until June 26 to agree with the government over whether they remain as partners in the projects.

“Due to this policy … some companies even left. There is one Yankee company that left and left the wells abandoned,” Chavez said at a political event with university students, without naming any company.

Press TV