Chavez Government Taking Oil Fields

Just like Putin did a few years ago with Yukos Oil, Hugo Chavez is trying to do in Venezuela.

(AP)Venezuela seized two oil fields from France's Total SA and Italy's Eni SpA after the companies failed to comply with a government demand that operations be turned over to state oil company Petroleos de Venezuela SA, or PDVSA, Oil Minister Rafael Ramirez said Monday.

"Those two companies resisted adjusting to our laws," he said at a news conference. "Those fields return to total, absolute control by Petroleos de Venezuela."