Exxon Loses Venezuelan Asset Freeze...............

[nhboy (Premo)]

Exxon Loses Venezuelan Asset Freeze and Ordered to Pay Compensation

"Venezuelan President and all around badass Hugo Chavez was awarded a complete victory over the largest oil company in the world by a British judge. As BoRev reported Tuesday:

This morning a judge tossed Exxon Mobile’s $12 billion asset freeze against Venezuela out of court, on the grounds that it was stupid. The U.S. State Department, you may remember, loudly supported Exxon in the case, which was probably the kiss of death for it in the first place.

The judge has also ordered Exxon to pay for Venezuela’s state oil company’s legal costs and compensation for damages. The oil giant secured $12 billion in freezes on Venezuela’s state oil company’s assets last month, and had a US court freeze $300 million in Venezuelan assets in a US bank. Exxon says the London ruling will not affect these orders, though Venezuela’s Energy Minister disagrees. Chavez himself has called the US measures “legal terrorism” sponsored by his enemies in Washington."

Exxon Loses Venezuelan Asset Freeze and Ordered to Pay Compensation - The Largest Minority

Court reverses Exxon freeze on Venezuela assets | Business | Reuters

Even though Exxon said it had no plans to appeal the decision, analysts expect a continuing fight from the company -- which is famous for heavy litigation in disputes.

"My guess is that Exxon isn't going to take this and simply say 'OK, we're going to sit down and come to a middle ground.' They're still going to play hardball," said James Halloran, analyst with National City Private Client Group, which owns 9.6 million Exxon shares.

Last month, a U.S. court confirmed its order freezing $300 million in Venezuelan assets in a U.S. bank.

Exxon had also secured $12 billion freezes on PDVSA assets from courts in the Netherlands and Dutch Antilles. The U.S. oil giant said the London ruling would not affect these orders, though Ramirez they would be have to be lifted.

[cwo_ghwebb]

As usual, can't come up with your own analysis that would require thought, instead, quotes a Socialist blogger. Nice.



Family has arrived so no more spankings for you today child!

[forestal]

Fool, the Blogger got his information from Reuters, and it doesn't contain any opinions of his own, it's pure fact reporting.

The Brits said plain and simple they didn't have jurisdiction to do what Exxon wanted.

Hugo Chavez is a real nut case, and Bush helps keep him in power by heavy handed approaches to dealing with him. A lighter touch is called for.

Court reverses Exxon freeze on Venezuela assets | Business | Reuters

Originally Posted by cwo_ghwebb

As usual, can't come up with your own analysis that would require thought, instead, quotes a Socialist blogger. Nice.



Family has arrived so no more spankings for you today child!

[terbear1225]

Originally Posted by nhboy

Exxon Loses Venezuelan Asset Freeze and Ordered to Pay Compensation

This morning a judge tossed Exxon Mobile’s $12 billion asset freeze against Venezuela out of court, on the grounds that it was stupid. The U.S. State Department, you may remember, loudly supported Exxon in the case, which was probably the kiss of death for it in the first place.

Originally Posted by forestal

Fool, the Blogger got his information from Reuters, and it doesn't contain any opinions of his own, it's pure fact reporting.

Court reverses Exxon freeze on Venezuela assets | Business | Reuters

right, because this really looks like something directly from reuters reporting just the facts with no personal opinion.

[nhboy (Premo)]

...

Originally Posted by cwo_ghwebb

Family has arrived so no more spankings for you today child!

Originally Posted by forestal

Hugo Chavez is a real nut case, and Bush helps keep him in power by heavy handed approaches to dealing with him. A lighter touch is called for.

I suppose Bush should Invite YUGO over for a campfire to roast marshmallows and hold hand singing Kumbya ....


so exactly how would you handle YUGO ....

[Toxick]

Originally Posted by nhboy

The judge has also ordered Exxon to pay for Venezuela’s state oil company’s legal costs and compensation for damages.

Listen... you can almost hear the ####ing gas prices going up.