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CARACAS, Venezuela (AP) - Venezuela's government sold licenses to exploit three offshore natural gas blocks on Thursday, assigning two of them to Russian oil firm OAO Gazprom and one to Chevron Corp.
Gazprom paid $15.2 million for one block and $24.8 million for another, Oil Minister Rafael Ramirez said. Chevron, based in San Ramon, Calif., paid $5.6 million for its block.
The state oil firm Petroleos de Venezuela SA rejected a fourth bid it considered too low, and the remaining two blocks saw no bids.
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