Venezuela will complete a back tax review of energy companies in October as part of an ongoing government campaign to maximise oil revenues.

“I am going to sit down with the press and give a perspective on the completion of the tax investigation into the 32 operating agreements held by 22 companies,” SENIAT tax agency chief Jose Vielma said.
Authorities insist the firms incorrectly filed their taxes during the 2001-2004 period and that companies owe hundreds of millions of dollars in back payments. Venezuela began the probe early this year and announced in late July that international major Royal Dutch Shell owed $131 million in back taxes.
Italian ENI and US independent producer Harvest Natural Resources have since been told they owe $24 million and $85 million, respectively.