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PDVSA to create new 'socialist' subsidiaries: Chavez
PDVSA social worker helping children with school workPlatts
CARACAS
Petroleumworld.com 05 28 07
Venezuelan state oil company PDVSA will create new "socialist"
subsidiaries including a branch that will produce oil services equipment in
Venezuela, President Hugo Chavez said in a speech Thursday night.PDV-Industrial "will begin producing in the coming months and years here
in Venezuela everything that the oil industry needs and that we have the
capacity to build," Chavez said. "Until now we have been importing all of
that." Equipment to be built in Venezuela includes rigs and platforms, he
said.Another "socialist" subsidiary will be called PDV-Servicios, Chavez said.
" Another one of the plans we are discussing is the creation of service
companies to move away from the many national and international capitalist
companies that are still servicing PDVSA," he said, "because the country
doesn't have and never had its own installed capacity."Another socialist subsidiary, PDV-Agricola, will be in charge of
agriculture.Chavez said he had already ordered the plan for the new subsidiaries
" months ago."
Platts 27 05 07
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