CARACAS, Oct 16, 2007 (AFP) - Flush with petrodollars, socialist President Hugo Chavez is cruising toward a vast constitutional overhaul that will let him seek reelection indefinitely, and push Venezuela away from market economics.

The legislature, which is run by Chavez allies, has already approved changes to 33 articles of the constitution that had been sought by the populist president and decided Monday to consider rewriting another 25.