The government's main hope of boosting output lies in the Orinoco heavy-oil belt.
Down the suasion chain there is much of the rest of North Africa and Middle East (part of the same street drama as in Egypt), Nigeria (West African oil belt), NATO including ever-trickier Turkey, Colombia and Panama (drug war) and an Asian-Pacific scene full of its own goblins.
Just days earlier the president had taken a similar decision in relation to the cement industry: three foreign transnationals Mexico's Cemex, France's Lafarge, and Holcim of Switzerland which supply most of the local market, are being offered a joint-venture scheme like the one applied last year to the oil companies in the Orinoco heavy-oil belt.
With the cost of oil skyrocketing, this belt is attracting the attention of a growing number of European leaders, who are embracing an ambitious proposal to harvest this solar energy for their nations.
Whatever the actual sum and cheaper oil will mean some belt-tightening even in the Gulf that is a great deal of cash, and even more so considering that the six-nation Gulf Co-operation Council is home to fewer than 40m people.
He just continued to let them run through the processing conveyor belt for oil extraction, in a one size fits all penalty regime, and then ground them up for fish fertilizer, while bragging about the results of his fishing expedition.
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The prices of refined products like diesel, gasoline and jet fuel, might increase much more sharply than crude-oil futures because of the refining belt that runs along the Gulf.
Shipments of oil from the north to the industrial belt in the south have been disrupted since the accident.
After five seconds in the oil, the fried chips emerge onto a conveyor belt, where high-speed cameras inspect them.
TNK-BP is also part of a consortium of five Russian companies that is partnering with PdVSA to develop the Junin 6 oil field, which is also in the Orinoco belt.
PDVSA, the national oil company, has taken over the fields in the Orinoco belt where many of the reserves are located, pushing out the likes of Exxon Mobil, Chevron, and ConocoPhillips.
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Mr. Chavez has already colluded with other OPEC nations to raise oil prices, and if he's successful in nationalizing multibillion-dollar crude projects in the Orinoco Belt, there's a risk that prices could jump again.
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