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PDVSA guarantees foreign investments amid uncertainty

Venezuela's state oil company PDVSA issued a statement guaranteeing "legal security" for all foreign companies in the nation, rebuffing a government advisor's suggestion that their operations could be nationalized. Francisco Monaldi, fellow in Latin American energy studies, believes that firms may still curtail investment into Venezuelan ventures until after the uncertainty is resolved. "This will pour cold water (on investments)," he commented in an interview with Reuters: