Perhaps feeble-minded Venezuelan president Victor Chavez does not want to spend decades in court with Exxon (NYSE: XOM) fighting over the oil company’s seizure of some of the country’s assets due to nationalization of Exxon property.
"With Exxon the solution was obvious from the beginning: if we position ourselves in the area of production, we withdraw our position in refining and those two amounts are similar," Deputy Oil Minister Bernard Mommer told the El Universal daily newspaper according to Reuters.
Having assets seized sometimes clears the head.
Douglas A. McIntyre
Get Ready To Retire (Sponsored)
Start by taking a quick retirement quiz from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes, or less.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Get started right here.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
