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Venezuela's oil industry plagued by piracy and holdups

Monday, June 29, 2015 - 05:50

Gangs, including those that have for years prowled the waters of Lake Maracaibo, are lured by the oil sector's valuable infrastructure.

Maracaibo, Venezuela

WHEN night falls over western Venezuela, armed gangs known as "pirates" sometimes ride boats into muggy Lake Maracaibo to steal equipment from oil wells. In the country's Paraguana peninsula, slum dwellers at times break through a perimeter wall into Venezuela's

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