Venezuelan government points to in-depth oil policy changes

A little over a year after Venezuelan President Hugo Chávez took office, a wide range of in-depth changes in oil policy is emerging.That can be seen as state petroleum company Petroleos de Venezuela SA (PDVSA) slashes its 2000-09 business plan, reshapes its strategies, and offers a greater role to private investors in the gas and petrochemical industries (see related story, p. 26).The Chávez administration also has raised some serious concerns regarding the future of the so-called oil opening (apertura) and internationalization policies that were put in place by previous administrations.Meanwhile, Venezuela's new Constitution, overwhelmingly approved in a popular referen...

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