But he said he would permit foreign firms to hold minority stakes in energy deals.

The anti-U.S. leader, in power since 1999, announced this week he would nationalize power utilities and the country's biggest telecommunications firm, confirming his status as the catalyst of Latin America's swing to the left.

"We have decided to nationalize the whole Venezuelan energy and electricity sector, all of it, absolutely all," Chavez said in his annual state of the nation address to parliament, potentially opening up more projects for state acquisition in the No. 4 crude exporter to the United States.

Chavez's growing control of Venezuela's economy is accompanied by his political influence. After the opposition boycotted elections, he has 100 percent support in parliament and dominates the judiciary.

The president was reinaugurated this week for a term that runs through 2013, and has said only his supporters can work in the army and huge oil industry. He uses his presidency to spar with Washington, which he accuses of bloodthirsty imperialism.

Chavez is a close ally of Cuba and Iran, whose president, Mahmoud Ahmadinejad, visited Venezuela on Saturday. Chavez said Venezuela and Iran agreed to push for a cut in world oil supplies to counter plunging prices.

Chavez has already pursued oil and gas projects and power utilities but left no leeway on Saturday for a private company to hold a majority in operations anywhere in the energy sphere.