Venezuelan Supreme Court Restores Halliburton Assets, Enables Oil Services Resumption

Halliburton Venezuelan Supreme Court asset return oil services Zulia

On 27 July 2024 the Venezuelan Supreme Court (Tribunal Supremo de Justicia, TSJ) issued sentence 327 ordering the return of movable and immovable assets that had been under judicial embargo to Servicios Halliburton de Venezuela S.A. The court ruled the assets are strategic and critical for the hydrocarbon industry and mandated that the current judicial depositary, José Alberto Núñez Gutiérrez, transfer possession to Halliburton.

The TSJ appointed a judicial overseer (veedor) funded by Halliburton to monitor compliance, inventory the assets and report periodically. An execution tribunal in Cabimas, Zulia, will carry out the transfer. Halliburton had suspended its Venezuelan operations on 30 December 2020 after U.S. sanctions, and had previously sought a temporary lift of the embargo on 24 March 2024, which the court denied while permitting a technical evaluation of the equipment. The decision clears the way for Halliburton to restart oil‑service activities in Venezuela.

Entities

Cabimas · José Alberto Núñez Gutiérrez · Servicios Halliburton de Venezuela S.A. · Tribunal Supremo de Justicia (Venezuela) · Zulia

Claims

What the coverage asserts, and how well corroborated each claim is across sources.

[● 4 SOURCES] The assets are deemed strategic and critical for Venezuela's hydrocarbon industry. curadas.com · laverdad.com · focoinformativo.site · elestimulo.com
[● 4 SOURCES] The Venezuelan Supreme Court ordered the return of Halliburton's seized movable and immovable assets. curadas.com · laverdad.com · focoinformativo.site · elestimulo.com
[● 4 SOURCES] The court issued sentence 327 on 27 July 2024 ordering the asset return. laverdad.com · focoinformativo.site · elestimulo.com · curadas.com
[● 2 SOURCES] The assets were embargoed due to labor lawsuits concerning former employees' benefits. curadas.com · elestimulo.com
[● 4 SOURCES] The execution tribunal in Cabimas, Zulia, will handle the transfer from depositary José Alberto Núñez Gutiérrez to Halliburton. laverdad.com · focoinformativo.site · elestimulo.com · curadas.com
[● 4 SOURCES] A judicial overseer (veedor) was appointed to monitor compliance and inventory the returned assets. curadas.com · laverdad.com · focoinformativo.site · elestimulo.com
[● 3 SOURCES] Halliburton suspended its Venezuelan operations on 30 December 2020 due to U.S. sanctions. laverdad.com · focoinformativo.site · elestimulo.com
[○ 1 SOURCE] Halliburton requested a temporary lift of the embargo on 24 March 2024; the court denied suspension but allowed a technical commission to inspect equipment. elestimulo.com