Venezuela Cuts Off Exxon

Categories: News
  • Venezuela Cuts Off Exxon: The Venezuelan state run oil company has announced that it has suspended operations with Exxon over contract negotiations. The dispute centers around Exxon's challenge of the nationalization of oil in Venezuela. The state run company, Petroleos de Venezuela SA, has said that Exxon's tactics amounted to "judicial-economic harassment". President Hugo Chavez has indicated that Exxon is no longer welcome to do business in his country.
  • Fast Facts:

    1. Only 2% of Exxon's oil comes from Venezuela
    2. Chavez threatens to cut U.S. oil supplies as well

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