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Venezuela bondholders inch toward showdown

Monday, March 20, 2017

Guyana oil prospects stir friction between Venezuela and ExxonMobil

However, the new-found oil wealth of Guyana has heightened tensions with its neighbour Venezuela, which is in the throes of an economic crisis caused in part by falling oil production and weak prices. It has also created further friction between Venezuela and ExxonMobil, which have been fighting a decade-long legal battle over compensation for oil projects expropriated by the government of the late Hugo Chávez in 2007. More…

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