Venezuela to seek end to asset freeze in Dutch court

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.

Petroleos de Venezuela SA will tell the court that Exxon is abusing the bilateral investment protection treaty between the Netherlands and Venezuela, the South American country’s energy and oil minister, Rafael Ramirez, said today in Rome.


“A lot of companies register in the Netherlands like Dutch companies and they are not,” Ramirez said. “Exxon now appears to be Dutch also and that is obviously an abuse and will be denounced.”

Companies including China National Petroleum Corp. and Eni SpA, Italy’s biggest oil company, also conduct their Venezuela operations through Dutch subsidiaries, Ramirez said.

Houston Chronicle