Venezuelan mayor seizes Baker Hughes office for 'not paying local taxes'

[TomSea]

The article notes, the situation has largely been resolved:

Venezuelan mayor seizes Baker Hughes office for 'not paying local taxes'
By Sergio Chapa Updated 6:43 am CST, Monday, November 11, 2019

A mayor in Venezuela temporarily seized an office belonging to Houston oilfield service company Baker Hughes, claiming that the company "chronically failed to pay municipal taxes."

Baker Hughes said the office has since been reopened after both sides agreed to resolve the matter in court. But the temporary shutdown is another example of the tensions and uncertainties that U.S. energy companies face as they try to do business in Venezuela and maintain access to what are the world’s largest proven crude oil reserves.

Orlando Urdaneta, the mayor of the western Venezuela town of La Cañada, said on Twitter that city officials temporarily closed the company's office early Thursday morning. Urdaneta, who did not say how much Baker Hughes allegedly owed, issued a statement to Venezuelan media that another Houston oilfield service company, Halliburton, paid its local taxes while Baker Hughes did not.

Read more at: https://www.chron.com/business/energy/article/Venezuelan-mayor-seizes-Baker-Hughes-office-for-14821213.php

[kidd]

Why in the world does Baker Hughes maintain a presence in Venezuela?

[IsailedawayfromFR]

Why in the world does Baker Hughes maintain a presence in Venezuela?

lots of companies do so.

Risk/Reward.

I assume they are not permitted to remove the equipment already in country.  Perhaps at times they get some type if payment as well (but doubtful).

It is owned by GE partially.