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Venezuela To Take Over 39 Oil Industry Contractors

Stock quotes in this article: WMB  

CARACAS, Venezuela (AP) — Venezuela's state oil company will take over 39 oil contractors with the backing of a new law, the government said Monday.

The 39 companies currently providing services to state-run Petroleos de Venezuela SA will be brought under government control under a resolution that took effect Monday after being published in the Official Gazette, the official Bolivarian News Agency reported.

It said the companies affected include Zulia Towing and Barge Company, Gusteca, Premeca, Seatech, and Terminales Maracaibo. The companies provide transport boats and other oil-related services on Lake Maracaibo in western Venezuela. ...

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