Chavez moves on oil service providers

Venezuelan President Hugo Chavez has announced plans to take over companies that provide services for the country\'s oil industry.



The National Assembly earlier approved a new law that would make it easier for the government to act.



The state oil company has recently clashed with foreign and local service providers complaining that the falling price of oil means they are being paid too much for their work.



President Chavez has re-invigorated his nationalization programme since his victory in a referendum in February.