Global Trade Alert
Global Trade Alert

Venezuela: Nationalisation of American-owned oil rigs

Announcement

29 Jun 2010

In June 2010, the government of Venezuela announced altered domestic business conditions for foreign investors.

Source

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Number of interventions

1

1 certainly harmful

0 likely harmful

0 liberalising

List of interventions

Implementation date

30 Jun 2010

Revocation date:

No revocation date

Updated: 29 Jun 2010
FDI: Treatment and operations, nes In force

On June 29, 2010 the Venezuelan National Assembly recognised eleven oil rigs as promoting the public interest. This led to Decree No 7.532 issued by President Chavez the same day, which exprop...

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