'We defeated Exxon,' Venezuelan oil minister says

[phantom power]

CARACAS (Reuters) - A ruling in a British court to lift a $12 billion freeze on Venezuelan assets earlier awarded to U.S. oil major Exxon Mobil was a "100 pct victory" for the South American nation, its oil minister said Tuesday.

"We have defeated Exxon," minister Rafael Ramirez said on state television after Tuesday's decision.

http://uk.reuters.com/article/hotStocksNews/idUKN1816550820080318?rpc=401&feedType=RSS&feedName=hotStocksNews&rpc=401

[northzax]

1. or, they bothered to show up in court this time

and didn't make random threats, so their assets were unfrozen. kinda like everyone thought would happen.

a small newsflash for PDVSA: when one is taken to arbitration based on a contract one signed, it is almost always a good idea to show up. It is also a good idea to refrain from blackmailing the judge. they frown on that sort of thing. also, often considered wise to not annouce publically that you have no intention of paying if you lose, judges aren't big fans of that, either.

[endarkenment]

2. How's that Uribe term limit abolition thing working out for you?

Ok with that? With the death squads? With their deliberate f*ing up of the hostage negotiations that screwed Íngrid Betancourt?

[northzax]

3. um? how's this particularly relevant?

I thought we were talking about PDVSA and Exxon suing each other over the purchase price of the Cerro Negro Heavy Crude Upgrading Facility. Isn't that what this thread is about? When did Uribe come into the conversation? is he under contract to either party?

or are you simply trying to chum the waters?

[lectrobyte]

4. What's the impact of the loss of Venezuelan oil shipments to Chalmette?

Gonna be some pissed-off SUV drivers.