World
Institutional
links
Welcome back on
26 -29 August,
ONS 2008
Bridging
the energy gap
is ONS 2006 theme,
from 22-25 August,
in Stavanger, Norway
Petroleumworld
Business
Partners:
Centre for
Global Energy
Studies
  |
PDVSA: Venezuela setting up 'our own Halliburton'
Houston Business Journal
HOUSTON
Petroleumworld.com 08 16 07
Venezuela is creating its own version of Halliburton Co.Oil Minister Rafael Ramirez on Tuesday said the state-run oil company, Petroleos de Venezuela SA, is starting its own oil services company in order to reduce dependence on foreign contractors like Halliburton and Schlumberger Ltd.
" We're going to create our own firm, called PSVSA Services," Ramirez said during a televised interview. "We can have our own Halliburton."Dino Barajas, an analyst and partner in the corporate practice group at Paul Hastings LLP, said the move could ultimately give the country more control over its industry.
"This could take several years to get a project like this off the ground, but in the long run it will help Venezuela protect its industry," Barajas said.
Houston Business Journal 15 08 07
Copyright© 2007 Houston Business Journal. All rights reserved.
Your
feedback is important to us!
We invite all our readers to share with us
their views and comments about this article.
Write to editor@petroleumworld.com
Any
question or suggestions, please write to:
editor@petroleumworld.com
Best
Viewed with IE
5.01+
Windows
NT 4.0, '95, '98 and ME +/ 800x600 pixels