Posts Tagged ‘Exxon’
Venezuela Wins Suit Against Exxon
9:19 am By Jennifer Woodard Maderazo · business|Money|Venezuela · Comments Off
18 Mar 2008
Score 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
Venezuela to Exxon : You Didn’t Invest that Much Dinero So Get Out
8:26 am By Jennifer Woodard Maderazo · business|Controversia|Money|Venezuela · Comments Off
15 Feb 2008
Earlier this week, we reported on the latest Hugo Chavez threat. By the next day, Venezuela’s state oil company said that it has stopped selling crude to Exxon Mobil Corp. This was a direct response to A US court freezing $12bn of State Venezuelan assets until the verdict of an international tribunal. Venezuela is saying that Exxon never invested that much money and that their actual assets value at $1.2bn.
Exxon gets (or got) about 5% of its crude oil from Venezuela.
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