Venezuela says some oil majors reject takeovers - Reuters

Source: Reuters

Venezuela says some oil majors reject takeovers

By Saul Hudson
Fri Jun 22, 10:17 PM ET

CARACAS (Reuters) - Some oil majors have rejected Venezuela's
terms for the takeover of their multi-billion dollar projects and
can leave the OPEC nation, President Hugo Chavez said on Friday,
days before a deadline for them to strike nationalization deals.

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"It seems there are some transnational companies that do not want
to accept (the terms)," said Chavez, who met his energy minister to
review the progress in negotiations earlier on Friday.

"Well if they do not want (to accept the terms), I told the minister
to tell them they can go, that they should leave, that we, in truth,
do not need them," he added during a political speech to swear in
the government's new "central planning committee."

Chavez, who calls Cuban leader Fidel Castro his mentor and is on a
drive to nationalize swathes of the economy this year, did not say
which companies rejected the government's terms.

-snip-

Read more: http://news.yahoo.com/s/nm/20070623/bs_nm/venezuela_nationalization_chavez_dc_2