Venezuelan President Hugo Chavez is planning new taxes on overseas oil companies, The Wall Street Journal reported.
The newspaper said the Venezuelan Congress is considering sharply raising taxes and royalties on foreign companies' operations in the Orinoco River basin... Chavez also wants to seize majority control of the four Orinoco projects and force private companies who run them to accept a minority stake, said the report, citing a top executive at state-run oil company Petroleos de Venezuela SA |