Venezuela suspends relations wtih Exxon Mobil
CARACAS, Venezuela (AP) - February 12, 2008 tate-run Petroleos de Venezuela SA, or PDVSA, said in a
statement that it "has paralyzed sales of crude to Exxon Mobil."
It said the decision was made "as an act of reciprocity" for the
company's "judicial-economic harassment."
President Hugo Chavez has shaken oil markets this week with
broader threats to cut off oil supplies to the United States. His
threats came in response to a drive by Exxon Mobil to seize
Venezuelan assets through U.S. and European courts in a dispute
over the nationalization of its oil ventures in Venezuela.
The impact of the decision on Exxon Mobil was not immediately
clear. Both Chavez and Oil Minister Rafael Ramirez previously said
the Irving, Texas-based company is no longer welcome to do business
in Venezuela.
