Tidewater Inc. and certain of its subsidiaries disclosed in a regulatory filing that they have filed a request with the International Centre for Settlement of Investment Disputes or ICSID, seeking arbitration against the Bolivarian Republic of Venezuela.
Tidewater claims that Petróleos de Venezuela, S.A. or PDVSA, the national oil company of Venezuela, and subsidiary Petrosucre, S.A, have directly or indirectly expropriated its investments in Venezuela during May and June of 2009, without paying any compensation.
Tidewater asserts that it is entitled to full reparation for the losses suffered as a result of Republic of Venezuela's violations of laws.
Tidewater noted that it has submitted this dispute to ICSID arbitration, as it received no response from Republic of Venezuela for its notice and request for consultations in an effort to resolve the dispute amicably.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.