Oiling the Squeaky Wheel

Venezuela has ordered Royal Dutch/Shell to pay almost $131 million in back taxes. The government is cracking down on tax evasions by oil companies and so they also confiscated financial data form Chevron. Hugo Chavez, the current president of Venezuela, is trying to tighten the government’s control over the lucrative and strategic oil industry. The government has said that they are going to alert two more oil companies in the coming weeks if they owe back taxes or not.

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