Venezuela Aims to Nationalize Petrochemical Sector

摘要

Venezuela's National Assembly has proposed a law to assume greater control of the petrochemical sector, a move that was widely expected to pass into law by CW presstime. The proposal would allow private investment in petchems only if state-owned petrochemical firm Pequiven (Caracas) has a majority stake in the project. Hugo Chavez Administration officials say the law is warranted because it is in the public interest to ensure that key industrial sectors are under state control. The law is specific to petchem operations, which analysts say means firms producing basic and intermediate chemicals from oil, gas or coal would be affected.