Chavez gives Exxon Mobil 10-day ultimatum

CARACAS, Venezuela, Dec. 20 (UPI) -- Caracas gave Exxon Mobil Corp. 10 days to accept the government as a partner and rejection of the ultimatum most likely means ejection from the nation.

Many other big oil companies have caved in to the demands of the Hugo Chavez regime, but Exxon Mobil has resisted, the BBC said Tuesday.

Most observers expect Chavez to eject Exxon Mobil if it does not abandon its current lease agreement with the government and accept his administration as its controlling partner.

Exxon Mobil has yet to respond publicly to the ultimatum.