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Venezuela

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  • For Exxon, More Is at Stake than Venezuelan Oil Wednesday, 13 Feb 2008 | 3:31 PM ET

    With more of the world's most valuable natural resources under the control of national governments, Exxon likely believes it has no other choice than to stand firm in its escalating battle with Venezuela.

  • Venezuela Needs the United States, Too Wednesday, 13 Feb 2008 | 11:38 AM ET

    Venezuela needs US refineries as much as we need the oil.The bulk of Venezuelan oil into Exxon's U.S. operations goes into its joint venture in Louisiana. Venezuela supplied about 78,000 bpd into the Chalmette refinery in Louisiana last year, according to energy analyst Andy Lipow in Houston.

  • Venezuela Cuts Off Oil Shipments to Exxon Mobil Wednesday, 13 Feb 2008 | 11:34 AM ET
    Hugo Chavez

    Venezuelan President Hugo Chavez stopped oil exports to Exxon Mobil on Tuesday, escalating a multibillion-dollar fight with the U.S. company two days after threatening to cut off all supplies to America.

  • Wednesday Look Ahead: Exxon's Battle Royale Tuesday, 12 Feb 2008 | 8:43 PM ET

    A key piece of economic data, some big earnings reports and a testy fight between Exxon Mobil and Venezuela may influence markets Wednesday.

  • Venezuela Cuts Off Oil Shipments to Exxon Mobil Tuesday, 12 Feb 2008 | 6:47 PM ET
    Hugo Chavez

    Venezuela's state oil company PDVSA has suspended oil exports to Exxon Mobil in retaliation for the freezing of billions of dollars of Venezuelan assets in a legal fight with the U.S. oil giant.

  • Venezuela Softens Tone on Threat to Cut US Oil Tuesday, 12 Feb 2008 | 2:33 PM ET
    Oil Pump

    Venezuela softened its tone on Tuesday over a threat to stop oil sales to America, with a top official saying a supply cut would be undesirable a day after world oil prices rose due to President Hugo Chavez's warning.

  • Venezuela Minister Ready to Halt Oil Exports: Paper Tuesday, 12 Feb 2008 | 10:12 AM ET

    Venezuela is "ready" to cut off oil supplies to the United States, Energy Minister Rafael Ramirez was reported as saying in a newspaper interview published Tuesday.

  • Venezuela Wants to Avoid US Oil Cutoff: Official Tuesday, 12 Feb 2008 | 9:50 AM ET
    Hugo Chavez

    Halting Venezuelan oil exports to the United States is possible, but would be undesirable and costly, a top official in the OPEC nation said Tuesday, a day after oil prices rose on a threat by President Hugo Chavez.

  • Tuesday Look Ahead: All Eyes on GM Monday, 11 Feb 2008 | 7:38 PM ET

    Stocks rode higher Monday ahead of General Motors' Tuesday earnings report, so you can bet it will be a big feature of Tuesday morning's trading.

  • Chavez Threatens to Seize Foreign Milk Plants Monday, 11 Feb 2008 | 3:17 PM ET

    Venezuelan President Hugo Chavez on Sunday threatened to seize milk plants owned by Switzerland's Nestle and Italy's Parmalat if they muscled state producers out of the market.

  • Venezuela Moves Bank Accounts After Exxon Freeze Monday, 11 Feb 2008 | 3:13 PM ET
    Hugo Chavez

    Venezuela has begun moving oil revenue into Swiss banks to avoid a possible seizure of funds by Exxon Mobil in a legal tussle that pits leftist anti-U.S. President Hugo Chavez against America's biggest company.

  • Chavez Says May Halt Oil Supplies Over Exxon Fight Sunday, 10 Feb 2008 | 4:19 PM ET
    (AP Photo/Donna McWilliam)

    President Hugo Chavez Sundaywarned he would halt oil supplies to the United States if it continued to attack Venezuela as he said it had done with an Exxon Mobil lawsuit freezing assets of the OPEC nation.

  • Venezuela Decries 'Judicial Terrorism' From Exxon Friday, 8 Feb 2008 | 3:48 PM ET
    (AP Photo/Donna McWilliam)

    Venezuela's top oil official accused Exxon Mobil of "judicial terrorism," but said court orders won by the oil major do not amount to confiscation of $12 billion in assets.

  • Courts Freeze $36 Billion in Venezuela Oil Assets Thursday, 7 Feb 2008 | 3:41 PM ET
    (AP Photo/Donna McWilliam)

    Exxon Mobil has moved to freeze up to $36 billion in Venezuelan assets around the world as the U.S. company fights for payment in return for the state's takeover of a huge oil project last year.

  • Exxon, Chevron Earnings Soar on Record Oil Prices Friday, 1 Feb 2008 | 11:46 AM ET

    Exxon Mobil posted the highest-ever quarterly and yearly profits by a U.S. company, while Chevron said its fourth-quarter earnings rose 30 percent.

  • OPEC Leaves Oil Production Unchanged Wednesday, 5 Dec 2007 | 10:22 AM ET
    Abu Dhbai

    OPEC agreed on Wednesday to keep exports unchanged, rebuffing consumer country calls for more crude to rein in $90-a-barrel oil.

  • OPEC May Consider Boost In Oil Output Wednesday Tuesday, 4 Dec 2007 | 5:25 PM ET
    Abu Dhbai

    OPEC's big Gulf producers are keeping the door open for higher oil exports when the group meets Wednesday in Abu Dhabi.

  • Venezuela Rejects Chavez Bid for More Power Monday, 3 Dec 2007 | 1:21 PM ET
    Hugo Chavez

    Humbled by his first electoral defeat ever, President Hugo Chavez said Monday he may have been too ambitious in asking voters to let him stand indefinitely for re-election and endorse a huge leap to a socialist state.

  • Venezuelans Vote in Tightly Contested Referendum Sunday, 2 Dec 2007 | 4:10 PM ET
    Hugo Chavez

    Venezuelans voted in a tightly contested referendum Sunday on whether to allow left-wing President Hugo Chavez to stay in power for as long as he keeps winning elections or hand him his first defeat at the polls.

  • Chavez Ups The Ante Friday, 30 Nov 2007 | 5:50 PM ET
    Hugo Chavez

    A constitutional referendum in Venezuela on Sunday is expected to significantly consolidate the power of President Hugo Chavez -- paving the way for a lifetime presidency and possibly an era of strong-man socialism -- but is not expected to fundamentally alter economic relations with the U.S., which are dominated by oil trade, analysts said Friday.