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Chavez critical of Exxon Mobil award

Jan. 9, 2012 at 2:30 PM   |   Comments

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CARACAS, Venezuela, Jan. 9 (UPI) -- Venezuelan President Hugo Chavez was defiantly critical of a ruling that awarded Exxon Mobil $907 million after some of its oil assets were nationalized.

The International Chamber of Commerce, in an arbitration process, said Venezuela owes Exxon for oil assets the country had taken over.

El Universal reported Monday that Chavez was highly critical of the decision.

"How much these oil companies have stolen for 100 years?" Chavez asked. "They would rather pay for the damages for those 100 years," he challenged.

"An arrogant Exxon Mobil did not want to arrive at an amicable settlement. This has always been our desire. We recently reached ... an amicable settlement with [two other companies]," he said.

"My answer to this and any other company is that Venezuela is a sovereign country," Chavez declared.

Topics: Hugo Chavez
© 2012 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
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