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Home > 2008 > March > Tuesday, March 18 2008 > Venezuela Wins Suit Against Exxon

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Tue18Mar2008

Venezuela Wins Suit Against Exxon

09:19 H | Topics: Business - Money - Venezuela

r.jpegScore for Venezuela in it's ongoing battle with U.S. oil giant Exxon. Earlier today a British court ruled that a $12 billion freeze on Venezuelan assets awarded to U.S. oil major Exxon Mobil should be lifted. The freeze has been won in January by Exxon, who wanted to secure available cash if it won arbitration over an oil field which was lost in President Hugo Chavez's nationalization drive. Exxon is expected to appeal.

Venezuela's Ambassador to Britain, who arrived shortly after the ruling, answered with just one word when he heard the result: "Excellento".Excellento? Um Reuters, check your translations.

Via / Reuters

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