Two Chevron employees detained in
Venezuela last week could be charged with treason for refusing to sign a parts
contract for a joint venture with state-owned oil company PDVSA, according to
two sources familiar with draft charges against the U.S. firm's executives. The
arrests, by national intelligence agents, marked the first at a Western oil
firm in Venezuela and represent a dramatic escalation of growing tensions
between PDVSA and foreign companies over control of supply contracts, the
sources told Reuters. The widening dispute could worsen operational chaos that
has caused the OPEC nation's oil output to plunge by 23 percent, or 450,000
barrels per day, since October. More…
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