Three international oil giants, Exxon Mobil, Italy’s Eni and China’s CNPC have been posing as Dutch firms in Venezuela to take advantage of generous trade treaties with the Netherlands, news agency ANP reports on Tuesday.
And according to Bloomberg, Venezuela expects to appear in a court in the Netherlands by the end of the month to demand an end to an asset freeze won by Exxon Mobil in a dispute over the nationalisation of Venezuela’s oil industry.
Petroleos de Venezuela will tell the court that Exxon is abusing the bilateral investment protection treaty between the Netherlands and Venezuela, the South American country’s energy minister, Rafael Ramirez, was reported as saying.
‘A lot of companies register in the Netherlands like Dutch companies and they are not,’ Ramirez told Bloomberg. ;Exxon now appears to be Dutch also and that is obviously an abuse and will be denounced.’
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