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  • Venezuela seizes oil rigs owned by US company

    06/24/2010 3:32:30 PM PDT · by jackspyder · 138 replies · 2+ views
    Associated Press ^ | June 24, 2010 | FABIOLA SANCHEZ
    CARACAS, Venezuela – Venezuela's government has seized control of 11 oil rigs owned by U.S. driller Helmerich & Payne, which shut them down because the state oil company was behind on payments. Oil Minister Rafael Ramirez announced that Venezuela would nationalize the Tulsa, Oklahoma-based company's rigs. He said in a statement Wednesday that Helmerich & Payne had rejected government demands to resume drilling operations for more than a year ...