ExxonMobil to Receive $255M for Venezuelan Venture
Venezuela said on Monday that it would compensate oil giant ExxonMobil $255 million for its 2007 nationalization of a joint venture project in the South American nation.
Venezuelan Minister of Energy and president of state-owned oil company PDVSA (Petroleos de Venezuela) Rafael Ramirez speaks during a press conference in Caracas in February 2008. Venezuela said on Monday that it would pay oil giant ExxonMobil $255 million for its 2007 nationalization of a joint venture project in the South American nation. Pedro Rey/AFP/Getty Images
By Frank Yu
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