Venezuela Halts Oil Sales To ExxonMobil

Law360 (February 13, 2008, 12:00 AM EST) -- Venezuela's state-run oil company said Tuesday that it had stopped selling crude to Exxon Mobil Corp. as a result of the energy giant's decision to try to freeze its assets.

The announcement came just two days after Venezuelan President Hugo Chavez threatened to cut off oil sales to the United States altogether.

“Due to the judicial-economic harassment undertaken by ExxonMobil against Petróleos de Venezuela SA, and as an act of reciprocity, PDVSA decided to suspend commercial relations and the supply of crude and other petroleum products...
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