Venezuela had a blunt message this week for Exxon Mobil, one of the world’s most powerful oil companies: Get off my crude-rich turf. Venezuela is tightening its squeeze on the oil industry, telling oil companies to give the state a greater share of profits - or get out. Oil Minister Rafael Ramirez on Wednesday said Exxon Mobil Corp. was one of the companies that would ‘prefer to leave … rather than adjust’ to recent policy changes. ‘We said we don’t want them to be here then,’ Ramirez told the state TV broadcaster adding, if ‘we need them, we’ll call them.’ Exxon Mobil indicated Thursday it had no plans to pull out. ‘ExxonMobil de Venezuela continues to have a long-term perspective of its activities in Venezuela,’ it said in an e-mail to The Associated Press. The flap helped push the price of oil above $67 a barrel on the New York Mercantile Exchange on Thursday as the market reacted to the latest sign of tighter state-control of energy around the globe. Venezuela is taking on Big Oil at a time when rising oil prices, political instability in the Mideast and Nigeria and new buyers […]
Saturday, April 1st, 2006
Venezuela Takes on Exxon Mobil in Oil Play
Author: NATALIE OBIKO PEARSON
Source: The Associated Press
Publication Date: Thu Mar 30, 5:16 PM ET
Link: Venezuela Takes on Exxon Mobil in Oil Play
Source: The Associated Press
Publication Date: Thu Mar 30, 5:16 PM ET
Link: Venezuela Takes on Exxon Mobil in Oil Play
Stephan: