Venezuela US v. Venezuela Venezuela US, S.R.L. v. Bolivarian Republic of Venezuela (PCA Case No. 2013-34)
Venezuela, Bolivarian Republic of
Minority equity interest of 18% in Petroritupano, S.A., a mixed company providing oil production services.
Claims arising out of the Government’s refusal to grant the claimant’s request to sell its stake in Petroritupano to a third party as well as other alleged wrongful conduct related to Petroritupano, a mixed company controlled by state-owned Corporación Venezolana de Petróleo (CVP). According to the claimant, CVP and Petróleos de Venezuela S.A. (PDVSA) manipulated Petroritupano’s finances and failed to pay the share of dividends to the claimant.
Primary: B - Mining and quarrying
6 - Extraction of crude petroleum and natural gas
PCA (Permanent Court of Arbitration)
Tomka, P.
Fortier, L. Y.
Kohen, M. G.
Bottini, G. (replaced)
Decided in favour of investor
Data not available
58.90 mln USD
Indirect expropriation

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Umbrella clause

Arbitrary, unreasonable and/or discriminatory measures
Arbitrary, unreasonable and/or discriminatory measures