Venezuela is considering the privatization of its state-owned oil industry, report says - Business Insider

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Venezuela is considering the privatization of its state-owned oil industry, report says

Men work at an oil pump in Lagunillas, Ciudad Ojeda, in the state of Zulia, Venezuela, March 20, 2015.Venezuelan President Nicolas Maduro has considered selling majority shares of the country's state-owned oil industry, according to a report by Bloomberg.

The South American country has faced an economic crisis as countries around the world have sanctioned Venezuela in an effort to push Maduro from power.

 

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