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Tuesday, March 18, 2008


Today's good news story

A British judge has lifted a $12 billion freeze on Venezuelan assets awarded to U.S. oil major Exxon Mobil in a spat over a seized oil field.
And that's not all:
Lawyers for PDVSA said Exxon had not applied for leave to appeal against the ruling and that the judge awarded legal costs against Exxon and ordered the Texas-based company to pay compensation for any damages caused by the imposition of the freezing order.

Exxon was ordered to make an interim payment of 380,000 pounds ($765,300) to cover legal costs within 21 days, although the final bill is expected to be much higher.
Suck on that, Exxon.

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