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Last Updated: Monday, 8 May 2006, 12:22 GMT 13:22 UK
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Chavez doubles tax for oil firms
Hugo Chavez has used oil income to fund social programmes abroad
The tax paid by foreign oil companies operating in Venezuela will be almost doubled, says President Hugo Chavez.
On his weekly television programme Hello President, Mr Chavez said a new ‘extraction tax’ of 33% would replace the current oil royalty of 17%.
He”
