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Thursday, April 27, 2017

Oil companies in Venezuela pull more expat employees as unrest escalates

As political turmoil in Venezuela mounts, oil firms including Norwegian major and Spain's Repsol have further reduced their already-dwindling ranks of expatriate employees in the country, sources familiar with the situation said. Statoil, Repsol and Chevron Corp are among the foreign oil companies that hold minority stakes in more than 40 joint ventures with state-run Petroleos de Venezuela (PDVSA), providing cash-strapped Venezuela with crucial crude production and income amid a debilitating economic crisis. More…

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