Politics in the Zeros. The politics of progress; cleantech, the economy. anti-war

Venezuela OilCo assets frozen

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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