PDVSA to Seek Seizure of 11 Helmerich & Payne Rigs
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Petroleos de Venezuela SA, the state oil company, is seeking nationalization of 11 oil rigs owned by Helmerich & Payne Inc., which it accuses of trying to slow crude production in the South American country.
The government-owned oil company will seek National Assembly approval to seize the rigs in Anzoategui state after a payment battle with Tulsa, Oklahoma-based Helmerich & Payne, Rafael Ramirez, oil minister and president of Petroleos de Venezuela, said yesterday in an e-mailed statement.