"The temporary occupation of Manpa (Manufactora de Papel) is aimed at verifying that toilet paper industry production, marketing and distribution" are all in line with state policies, Vice President Jorge Arreaza said on Twitter, without indicating how long the takeover would last.

He said the decision had been taken by an economic panel sworn in last week by President Nicolas Maduro, a close ally of Communist-ruled Cuba.

OPEC member Venezuela has vast crude oil resources, sitting atop the world's largest proven reserves.