UPDATE: The AP is reporting that President Hugo Chavez has been proclaimed victor in the Venezuelan elections, according to the country's National Electoral Council. ABC News reports he won by a comfortable margin of 1 million votes.

UPDATE: Tarek El Aissami, Interior Minister and Justice Minister for Chavez's government has tweeted victory for Chavez. Spanish outlet El Pais is also reporting that unofficial data suggests a "comfortable" Chavez win. Looks like this may be a contentious result: