CARACAS, Venezuela – Venezuela’s congress, dominated by supporters of President Hugo Chavez, released a report Thursday recommending the state assume majority control of key heavy oil projects run by companies like Chevron Corp. and Exxon Mobil Corp. in its oil-rich Orinoco River basin.

Such a move, which Chavez has yet to publicly endorse, would bring all active oil-producing operations run by foreign companies in Venezuela effectively under state control.
news.yahoo.com

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