Chevron to pay Venezuela $50.2 mln tax

CARACAS, Venezuela
U.S. oil major Chevron will pay $50.2 million in back taxes, fines and interest to the Venezuelan government, the nation's tax chief said on Friday.

"Chevron will pay today," Jose Vielma, superintendent of Venezuela's Seniat tax agency, told reporters.

Venezuela's government has hit foreign and private companies operating in Venezuela with back tax payments for operations between 2001 and 2004.