MIAMI, May 6 (UPI) -- Venezuelan officials are mulling over a proposed law that would allow the state-owned oil company, Petroleos de Venezuela SA, to take over certain service projects associated with the petroleum industry currently being performed by private companies.

MIAMI, Dec. 9 (UPI) -- Venezuelan President Hugo Chavez said his country's oil-based economy could be in trouble as world oil demand decreases and a global financial crisis looms.

MIAMI, Nov. 6 (UPI) -- Venezuela has notified petroleum customers that production levels would be cut to counter falling oil prices, part of OPEC's agreement to reduce production across the board to counter falling oil prices worldwide.

MIAMI, Oct. 15 (UPI) -- Oil production has dropped dramatically in Venezuela since President Hugo Chavez assumed office a decade ago, according to a report.

MIAMI, Oct. 13 (UPI) -- Ecuadorian President Rafael Correa has threatened to kick out foreign oil companies if they don't increase output in the coming weeks and months.

MIAMI, July 16 (UPI) -- Venezuela is threatening to stop oil shipments to the United States if ExxonMobil is successful in once again freezing billions of dollars in overseas accounts belonging to Venezuela's state-run energy company PDVSA, a move that surely would send oil prices soaring.

MIAMI, April 16 (UPI) -- Venezuela has approved a 50-percent tax on foreign oil companies for oil when priced at more than $70 a barrel.

CARACAS, Venezuela, March 25 (UPI) -- Venezuelan President Hugo Chavez said his country's recent victory in a lawsuit over ExxonMobil was akin to "a win against the Yankees."

MIAMI, March 19 (UPI) -- Two U.S. representatives from Florida introduced legislation seeking to designate Venezuela a state sponsor of terror, a move that could hurt the country's oil sector and U.S. relations in the region.