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Chavez Nationalizes Venezuelan Oil Fields Venezuelan President Hugo Chavez nationalized the last privately run oil fields in the country Tuesday as the government took over projects run by some of the biggest petroleum companies.

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Chavez Nationalizes Venezuelan Oil Fields

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Chavez Nationalizes Venezuelan Oil Fields

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Venezuelan President Hugo Chavez nationalized the last privately run oil fields in the country Tuesday. The government is taking over four oil projects run by some of the world's biggest petroleum companies.