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Venezuela Chavez takes over gas compression units

CARACAS
Wed Jun 3, 2009 9:58pm EDT

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CARACAS (Reuters) - Venezuela's President Hugo Chavez said on Wednesday his government was taking over a group of gas compression plants related to the oil industry, the latest move by the socialist leader to increase state control of the economy.

Chavez said the government was taking control of 70 gas compression units in 14 plants in several parts of the country including the Maracaibo and Orinoco oil heartlands.

"We continue advancing, recovering the control, property and management of all these plants and compression units. Nobody will stop us in this," he said.

"We have a timetable to take control of the production plants in the Orinoco belt," Chavez said.

He did not give details of the companies affected.

In recent weeks, Chavez has stepped up a two-year nationalization drive in the OPEC nation, taking over oil service companies including U.S. firm Williams Companies (WMB.N).

Since 2007, he has put major energy projects, heavy industry and telecommunications in state hands.

(Reporting by Ana Isabel Martinez; Writing by Frank Jack Daniel; Editing by Gary Hill)


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