US oil giant loses 4.5 Billion by pulling out of Venez.

[disciple]

US oil giant ConocoPhillips has said that a decision not to accept a minority stake in its operations in Venezuela may cost it $4.5bn.

The firm rejected a deal that would keep them working in Venezuela's most important oil field.

Hugo Chavez's government is taking over majority control of operations in the Orinoco Belt, as it extends state control of the oil industry.

Norway's Statoil agreed to reduce its 15% stake in a project to 10%.

BP, Chevron and Total have also signed deals to take minority stakes.

http://news.bbc.co.uk/2/hi/business/6244196.stm

[Saxito Pau]

.. and you are welcome to stay as long as you like...

[Arcmanov]

I say 'good move boy Hugo'.  So why the oil companies must make ALL the money?  ESPECIALLY the US ones...

I bet you Bush will have some s#!t to say about that against Chavez.

[disciple]

I know is out of topic but Chavez just introduced a new law where he can be reelected indefinitely... 

I never gonna see my home again... good thing now I’m the adoptive daughter of Trinidad & Tobago.

in your first duty as an adoptive daughter of t & t, i hereby charge you to bring in some more venez. chicas :-)

[W1nTry]

There's no disputing that Chavez is a dictator that has so far as i'm concerned NOT contributed in a positive way to his country locally and on the international scene. His ppl are oppressed, crime is rampant, He's constantly straining/breaking ties with foriegn countries and has idiots for a government... but that last one is true of many. Sadly this seems to be getting progressively worse and its sad that as it is, alot of ppl wouldn't think twice about visiting as its a nice place...