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Venezuelan Minister: ExxonMobil Practicing “Judicial Terrorism”

HeadlineFeb 15, 2008

In Venezuela, protests continued for a second day Thursday against the oil giant ExxonMobil. Exxon won court rulings last week freezing the Venezuelan state oil company’s foreign assets and bank accounts as part of an attempt to recoup an investment in a nationalized Venezuelan oil project. But Venezuela says Exxon is trying to recover more than ten times what its investment was actually worth. Venezuelan energy minister Rafael Ramirez accused Exxon of “judicial terrorism.”

Venezuelan energy minister Rafael Ramirez: “ExxonMobil has very strong links to the far right in North America and is one of the most powerful companies on the planet. They are trying to damage us as a nation. They are trying to turn our national company into an oil hostage. They are trying to commit judicial terrorism.”

Venezuela says it’s close to reaching an agreement with another oil giant, ConocoPhillips, which was also involved in the oil project before it was nationalized.

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