But the U.S. oil major said it was also prepared to fight to assert its interests if it has to.
"We have indicated to the Venezuelan government that we're still prepared to talk, but should that not be the case, we'll protect our rights," Robert Olsen, chairman of Exxon Mobil International told Reuters in an interview at the sidelines of the International Petroleum Week conference in London.
Leftist President Hugo Chavez told foreign oil companies last year to cede a majority stake in oil projects or leave the country.
Most agreed and accepted bids for stakes in their projects from state oil company PDVSA, bids that analysts said were below market value.
But Exxon and rival oil major ConocoPhillips (COP.N: Quote, Profile, Research) opted to pull out rather than give in to government demands.
No comments:
Post a Comment