ExxonMobil has previously received a court verdict freezing the Venezuelan state-run oil firm PDVSA’s assets, to be available for arbitration over ExxonMobil’s assets that were repossessed by the Venezuelan government in its nationalization drive, according to the news source.
The row between ExxonMobil and the Venezuelan government helped push crude oil prices over $100 per barrel and led to threats of stoppage of fuel supplies to the US by Venezuela, according to Reuters.
