March 30, 2006
Chávez describes new oil contracts as historical

(Agencia Bolivariana de Noticias) - "Venezuelan state-owned oil company PDVSA will sign different contracts with mixed companies on a day that President Chávez describes a historical (...)

President Chávez reminded that international companies extract very cheap crude oil and do not pay oil taxes; they pay non-oil taxes, which are very low.

Extracting an oil barrel from Venezuela costs approximately $4. Foreign companies extracted Venezuelan oil for $4, but we had to buy it from them in $25 (...)".