Venezuela’s oil minister says Exxon demands excessive

CARACAS, Venezuela


“They ask for too high an amount for their compensation,” Ramirez said.

Irving, Texas-based Exxon Mobil is seeking to freeze billions of dollars in assets belonging to Venezuela’s state oil company, Petroleos de Venezuela SA, or PDVSA, to guarantee a payoff in the event it wins a decision by an international arbitration panel. A British court issued an injunction last month temporarily freezing up to $12 billion of PDVSA’s assets.

AP