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May 22, 2005
Chavez Says Foreign Oil Firms Owe Venezuela 2 Billion Dollars
An Agence France Press article in Gulf Times of Qatar says "Venezuelan President Hugo Chavez has turned up the pressure on foreign oil companies by adding a clause to their contracts that will allow his government to raise the royalties and taxes it levies on the crude oil extracted from Venezuela. The populist leader has already put the oil giants on notice that they owed his government a total of almost $2 billion in back royalties," the report notes. Here's more.
Posted by Munir Umrani at May 22, 2005 02:51 PM
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