Venezuela Sputters, But Exxon's Ready To Negotiate

Law360, New York (February 8, 2008, 12:00 AM EST) -- Exxon Mobil Corp. remains willing to negotiate with the Venezuelan government in a multibillion-dollar battle over the nationalization of joint oil ventures, it said Friday, the same day Venezuela's energy minister reportedly accused the Texas oil giant of “judicial terrorism.”

Energy Minister and Petroleos de Venezuela President Rafael Ramirez said that Exxon Mobil Corp.'s claims that it had succeeded in freezing $12 billion dollars of PDVSA's assets were bunk, and that the state-owned oil company had only had $300 million in cash frozen, according to the...
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