(VHeadline.com News) - "Petróleos de Venezuela (PDVSA) president, Rafael Ramírez states that the government has complete control of operations in the Orinoco Oil Belt.

'All operations of strategic associations, risk exploring projects and shared profits are under the full control of PDVSA and within the law.'

The Energy & Petroleum Minister points out that foreign companies operating in the Belt will preserve their activities once the passage to joint ventures has been formalized.

However, Ramírez does admit that there has been certain resistance from the companies but insists that the State has reaffirmed its priorities and attributes, making them crystal clear to the transnationals.

The government measure to assume control of the Orinoco Oil Belt is based on its policy of full oil sovereignty.

The Minister makes it clears that the transnationals have been made aware of the rules of the game.

On May 1, PDVSA took control of strategic associations operating in the Belt and companies have until the June 26 to make the change to a joint-ventures in which PDVSA holds majority shares.

The Minister states that once the companies have agreed to the new shareholding structure, they have until August 26 to define how the new structure will work out.

Ramírez confirms that the following companies are involved in the process: Conoco-Phillips, Chevron-Texaco (USA), Total-Final (France), Statoil ( Norway ), ENI ( Italy ) and Exxon-Mobil".