(Bloomberg) -- ConocoPhillips and Exxon Mobil Corp.
will quit Venezuela, where they invested billions of dollars in
oil and natural gas projects, after talks about ownership failed,
said a person on the government's side of the negotiations.
ConocoPhillips will cede its interests in the Petrozuata
heavy-oil joint venture to state-run Petroleos de Venezuela SA,
and Exxon Mobil will give up its concession in the Ceiba oil
block in western Venezuela, Petroleos de Venezuela said in a
statement today. The release didn't disclose the status of the
companies' other interests in the country, which the person said
would be given up.
Read more at Bloomberg Energy News
will quit Venezuela, where they invested billions of dollars in
oil and natural gas projects, after talks about ownership failed,
said a person on the government's side of the negotiations.
ConocoPhillips will cede its interests in the Petrozuata
heavy-oil joint venture to state-run Petroleos de Venezuela SA,
and Exxon Mobil will give up its concession in the Ceiba oil
block in western Venezuela, Petroleos de Venezuela said in a
statement today. The release didn't disclose the status of the
companies' other interests in the country, which the person said
would be given up.
Read more at Bloomberg Energy News
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