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Venezuela to take over whole energy sector: Chavez

By Staff
Google Oneindia News

Caracas, Jan 14: Venezuelan President Hugo Chavez said TOdayhe would nationalize ''absolutely all'' of the country's energyindustry, broadening the range of state takeovers at the heart of hissocialist revolution.

The anti-US leader, who has been president since 1999 was re-inaugurated on Wednesday for a term that runs through 2013.

He announced plans this week to nationalize electricity utilities and the OPEC nation's biggest telecommunications company.

''We have decided to nationalize the whole Venezuelan energy andelectricity sector, all of it, absolutely all,'' he said in an addressto parliament.

Chavez is expanding the scope of his push to take over thehydrocarbons industry in the fourth-biggest crude exporter to theUnited States, saying he wanted state control of foreign-run gasprojects as well as crude fields.

His remarks today would suggest he sees no room for any foreign ownership anywhere in Venezuela's main industry.


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