Venezuela Ramps Up Rhetoric In Battle With Exxon

Law360, New York (February 19, 2008, 12:00 AM EST) -- Venezuela's oil minister, Rafael Ramirez, confirmed Tuesday that the country is making plans to sue Exxon Mobil Corp. over claims of unreported oil production by the company in a move that could redraw the battle lines between the two.

Ramirez said attorneys were working on the matter and that there were enough arguments for Venezuela to take legal action against ExxonMobil, according to a statement released by state-run oil company PetrĂ³leos de Venezuela SA.

Venezuela President Hugo Chavez first noted the intention to pursue a lawsuit...
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