Venezuela OilCo assets frozen
Bob Morris @ Feb 11th 2008 03:12 - Category: Unfiled Tags: Exxon, Venezuela
Exxon has won a court decision which freezes $12bn in assets of the nationalized Venezuela Oil company in a dispute over Exxon’s investment of $750 million.
Bonds of the oil company dropped in response, and now only fetch 66.75 cents on the dollar, which, I think, makes them junk bonds.
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