FACTBOX: The overseas assets of Venezuela's oil giant PDVSA

Fri Feb 8, 2008 5:04pm EST
 
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(Reuters) - Oil major ExxonMobil Corp obtained court orders in the United Kingdom, the Netherlands and Netherlands Antilles in late January, freezing $12 billion of the foreign assets of Venezuela's state oil company PDVSA.

The freeze was sought by Exxon as a means of guaranteeing payment from PDVSA in the event it wins an arbitration case brought over the nationalization of Exxon's stake in Cerro Negro, a Venezuelan heavy oil project.

PDVSA claims to have $107 billion in assets worldwide. The following is a list of major foreign assets owned by PDVSA:

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BAHAMAS Bahamas Oil Refining Co Ltd (BORCO)

-20 million barrel oil storage facility

-PDVSA attempted to sell the facility in 2007 for a

reported $600 million to $700 million but the sale was

never concluded

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GERMANY

Ruhr Oel GmbH

-50:50 refining joint venture with BP Plc. Ruhr Oel owns a

240,000 bpd refinery in Gelsenkirschen and stakes in three

refineries in Bavaria, Karlsruhe and Schwedt. PDVSA has

repeatedly said these assets to do not fit into its  Continued...

 

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