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Venezuela Sells Citgo’s Stake in Lyondell Refinery

Venezuela announced that it is selling Citgo’s shares in the Texas-based Lyondell refinery. Venezuela, which owns 41% in the plant, is selling out to its partner Lyondell Chemical Co., for a total of just over $1.3 Billion.

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Leader of 2002 Oil Industry Shutdown Flees Venezuela Prison

Carlos Ortega, the leader of the 2002-2003 oil industry shutdown, which caused over $7 billion economic damage, and who was convicted to 16 years in prison, fled yesterday along with three imprisoned military officers.

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Chavez Launches his Candidacy for Venezuela's Presidency 2007-2013

Venezuela's President Hugo Chavez officially registered as a candidate on Saturday, just before addressing a large crowd outside the electoral council's offices, in order to launch his re-election campaign.

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Venezuela Begins Process of Certifying Orinoco Reserves

Venezuela began the process of “quantifying and certifying” its Orinoco belt oil reserves on Thursday, which could recognize Venezuela as the country with the largest petroleum reserves in the world by 2008.

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Chavez Highlights Two of Venezuela’s Social Programs

The latest advances of the Venezuelan social programs, known as “missions,” were on show this week as Misión Madres del Barrio was expanded to include 40,000 new participants, while the education mission, Misión Robinson II, celebrated 327,000 new graduates.

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Bidding Starts for Venezuela’s Natural Gas Licenses

Venezuelan Energy Minister, Rafael Ramirez, Tuesday invited private companies to bid for licences to explore and produce off-shore natural gas as part of Project Delta-Caribe. Ramirez also announced that Venezuela is discovering 45% more gas than expected in some of its fields.

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U.S. Sanctions on Russian Arms Because of Venezuelan Arms Deal, Say Russians

Russia's Defense Ministry said new U.S. sanctions against two Russian state-owned companies were linked to their recent defense contracts with Venezuela.

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Venezuela Captures Suspected Drug Lord

Venezuelan authorities said Tuesday they had captured the alleged head of an international drug trafficking network. This announcement follows last week’s arrest of a Colombian paramilitary leader wanted on drug charges in the U.S. and Colombia.

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Manual Rosales Nominated as Venezuela’s Main Opposition Candidate

Nealry all opposition candidates agreed today to support Zulia State governor Manuel Rosales for the upcoming presidential election against President Chavez. A major opposition party, though, is calling for abstention.

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Israel Withdraws its Ambassador for Venezuela

Israel withdrew its ambassador from Caracas yesterday in response to an identical move made by Venezuela towards Israel last week. On the same day, Venezuela sent a Boeing 707 jet full of aid to Lebanon to help alleviate the humanitarian crisis caused by the Israeli bombing.

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Presidential Candidate Withdraws, Opposition Primaries in Doubt

Independent opposition candidate Teodoro Petkoff announced he would withdraw his candidacy for lack of popular support. Two of the main remaining candidates announced that they will agree amongst themselves who will run. Primary election, scheduled for next week is in doubt.

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Venezuela Recuperates Largest Landed Estate in Country

This Sunday, Venezuelan President Chavez announced the recuperation of the “largest latifundio” in the country, and the creation of the Socialist Production Unit "Manuel Piar."

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Súmate Investigated For Receiving More Foreign Funding

Súmate, the Venezuelan organization in charge of organizing the opposition primaries, and known for receiving donations from the US government, is again under investigation for its sources of funding.

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Venezuela Withdraws Ambassador from Israel

President Hugo Chávez ordered yesterday the withdrawal of the Venezuelan ambassador to Israel in an act designed to express Venezuela’s “indignation” at the actions of the Israeli government, aided and abetted by the United States against the Palestinian and Lebanese people.

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Decree Enables Expropriations of Homes for Renters in Venezuela’s Capital

In a move that has been applauded by renters in Venezuela’s capital, the Caracas Mayor’s office approved a reform to its housing expropriations decree, opening up 700 more buildings throughout Caracas to the possibility of expropriation.

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