Venezuela seizes gas compression plants, faces union unrest

06/15/2009
Venezuela’s President Hugo Chavez said state-owned Petroleos de Venezuela SA (PDVSA) is continuing to nationalize oil field service companies in the country, with Houston-based Exterran confirming its facilities as the latest seizure. “We continue advancing, recovering the control, property and management of all these plants and compression units. Nobody will stop us in this,” said Chavez, adding, “We have a timetable to take control of the production plants in the Orinoco belt.”PDVSA Chief Executive Pedro Coronil added to Chavez’s words, saying, “With the takeover of five more plants in the eastern region that produce about 224 MMcfd of gas and 3...
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