Exxon Is Awarded Freezes On Venezuelan Oil Assets
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Exxon Mobil has won a British court order freezing up to $12 billion of worldwide assets belonging to the Venezuelan national oil company, Petroleos de Venezuela, in a dispute over President Hugo ChÃÂ¿vez's efforts to seize control of oil ventures in his country.
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Some oil majors have rejected Venezuela's terms for the takeover of their multi-billion dollar projects and can leave the OPEC nation, President Hugo Chavez said on Friday, days before a deadline for nationalization deals to be concluded.
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Some oil majors have rejected Venezuela's terms for the takeover of their multi-billion dollar projects and can leave the OPEC nation, President Hugo Chavez said on Friday, days before a deadline for them to strike nationalization deals.
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OAO Yukos Oil Co., Russia&#39;s biggest oil exporter, will cut deliveries to China&#39;s biggest oil company next month after a government freeze on its bank accounts prevented it from paying railway bills.
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Energy company Harvest Natural Resources encounters problems in Venezuela.
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CARACAS, Venezuela  - Venezuelan President Hugo  Chavez on Friday froze bilateral accords and business deals  with Colombia in retaliation for a Colombian police operation  that abducted a top Colombian Marxist rebel from Venezuela.
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Under the edict, prices of oil products, natural gas and electricity will be frozen in the near term along with  public water bills and transportation tickets.
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Venezuela's top oil official accused Exxon Mobil Corp. of "judicial terrorism" on Friday, but said court orders won by the oil major do not amount to confiscation of $12 billion (8.3 billion euros) in assets.
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Exxon Mobil has obtained a court order freezing up to $12 billion of Venezuela's state-owned oil company's worldwide assets after the government of President Hugo Chavez forced the company out of two joint ventures last year, a company spokeswoman said Thursday.
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Venezuela said on Thursday U.S. oil giants ConocoPhillips  and Chevron  had agreed to cede by May 1 the operations of multi-billion dollar projects in the Orinoco heavy crude belt.
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Russia&#39;s troubled Yukos oil company says it is being forced to slash production and expenditures because the government has frozen its assets.
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The United States on Wednesday froze the U.S. assets of nine people and two businesses in the border area of Brazil, Argentina and Paraguay who Washington said helped funnel millions of dollars to Lebanon's Hezbollah.
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Exxon Mobil Corp. XOM.N, the world's  largest publicly traded oil company, on Monday posted the  biggest quarterly profit ever for a U.S. company -- $8.42  billion -- driven by high crude oil and natural gas prices.
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Shell made the offer after months of pressure by RussiaÂs environmental regulators, who threatened to freeze work on the project by revoking critical operating permits.
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ExxonMobil  sought court orders  in Europe to freeze $12 billion in Venezuela's overseas energy  assets because getting a similar order in the United States  before it won its arbitration case against Venezuela's state  oil company PDVSA would be too difficult under U.S. law, court  papers showed.
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Venezuelan President Hugo Chavez on Thursday set the world's biggest oil companies a May Day deadline to surrender control of multibillion-dollar crude projects, accelerating his raft of nationalizations.
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Venezuela's oil operations and cash  flows have not been affected by court orders won by Exxon Mobil  Corp  to freeze up assets as the U.S. giant fights for  compensation for a project nationalized last year, the nation's  energy minister said on Friday.