Venezuela says Exxon pressure pushing up oil price
CARACAS (Reuters) - Exxon Mobil's (XOM.N: Quote, Profile, Research, Stock Buzz) legal actions against Venezuela are keeping oil prices high, Venezuelan Oil Minister Rafael Ramirez said on Wednesday in an interview with Venezuelan state television.
Exxon Mobil won court orders freezing up to $12 billion in assets as part of a dispute over Venezuela's 2007 nationalization of an oil project Exxon ran.
Speaking from the OPEC meeting in Vienna, Ramirez said Venezuela was presenting legal arguments in a London court to "ensure this type of action does not become a precedent that would help destabilize the global oil market.
"All of these actions by transnational companies ... against producer nations are keeping oil (prices) at their current levels."
OPEC on Wednesday expressed support for Venezuela and its state oil company PDVSA in exercising sovereign rights as part of President Hugo Chavez's nationalization campaign last year.
Oil prices hit a record of almost $104 per barrel on Monday amid concerns over the weakening of the U.S. dollar.
(Reporting by Brian Ellsworth; Editing by Christian Wiessner)
© Thomson Reuters 2008 All rights reserved
Ads by Career Builder
Energy Analyst
Details: ...comfort, safety and energy-efficiency of buildings...establishes and monitors energy consumption, utility...Base Tool) to track energy consumption during...
HVAC Energy Engineer, BSME
Details: ...open as of 7/26/2008. HVAC Energy Engineer, BSME HVAC Energy Engineer, BSME, Green Energy Location: New York, NY Salary...
Energy Trading System Consultant
Details: ...immediate opening for an Energy Trading Systems Consultant...client-facing role. The Energy Consultant will be...OpenLink’s Endur (energy) software system...
Account Executive - IT Consulting, Energy Utilities Practice
Details: ...Outsourcing Sales Director Industry focus: Energy, Utilities, Natural Resources, Chemical, Oil & Gas Job Summary...









