US regards nationalization in Orinoco oil belt as disturbing

Venezuelan Government plans to take control of heavy oil projects in Orinoco oil belt managed by multinationals are a "disturbing trend" that may endanger the economy of the nation, a member of the Organization of Petroleum Exporting Countries (OPEC), said Thursday a spokesman of the US Department of Energy.

"This is a disturbing trend, far from the principles of transparency and open market," Spokesman Craig Stevens noted, as quoted by Reuters.

"These actions will harm significantly, to the detriment of the Venezuelan people, the long-term development of the country's national resources and ultimately, economic growth," he added.