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Home > 2008 > February > Thursday, February 21 2008 > Venezuela Settles With International Oil Co's Except Exxon.

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Thu21Feb2008

Venezuela Settles With International Oil Co's Except Exxon.

11:42 H | Topics: Money - Politics - Venezuela

_44441846_chavez_ap203b.jpgVenezuela's government settled with three oil companies, totaling $1.8 billion.

France's Total, Norway's Statoil and Italy's ENI agreed to the settlement after accepting the book price for the assets that PDVSA took over.

Total accepted $834m, ENI accepted $700m and Statoil received $266m, France's AFP news agency reported.

Not included in the settlement is Exxon, seeking $12 billion, granted to the U.S. company in a settlement. Venezuela disputes that Exxon invested that much money, saying it was closer to $1.2 billion.

Via / BBC

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