Posts Tagged ‘Venezuela oil’
Venezuela Settles With International Oil Co’s Except Exxon.
11:42 am By Jennifer Woodard Maderazo · Money|Politics|Venezuela · Comments Off
21 Feb 2008
Venezuela’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
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.
Hugo Chavez Threatens to Halt Oil Sales to the US
9:31 am By Jennifer Woodard Maderazo · Controversia|Venezuela · Comments Off
11 Feb 2008
When he’s not insulting the U.S. leadership, Venezuela’s President Hugo Chavez is threatening the United States, this time he’s threatening to cut off oil.
“If you end up freezing (Venezuelan assets) and it harms us, we’re going to harm you,” Chavez said during his weekly radio and television program, “Hello, President.” “Do you know how? We aren’t going to send oil to the United States. Take note, Mr. Bush, Mr. Danger.”
Chavez is referring to Exxon Mobil Corp.’s lawsuit seeking to win court judgments to seize billions of dollars in Venezuelan assets. The lawsuit was filed by Exxon after Venezuela nationalized it’s oil industry, causing Exxon and other multi-national oil co.’s to stop operations and recoup investments.
The U.S. is Venezuela’s number 1 oil client.
Via / Yahoo! and The Latin Americanist
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