Venezuela hikes oil taxes

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Venezuela hikes oil taxes

Salman Shaheen
May 09 2011
800px-hugochavez1820small.jpg

President Hugo Chavez has unveiled a revamp of Venezuela’s upstream regime, hiking the already-hefty 60% tax rate on oil production to as much as 95%. But the massive rise may not be as onerous as it looks, and may not prompt an exodus from the nation’s oil patch.

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Salman Shaheen
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Salman Shaheen worked at ITR between 2010 and 2017
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