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| Version 0 | Version 1 |
|---|---|
| Court releases Venezuelan assets | Court releases Venezuelan assets |
| (about 2 hours later) | |
| The High Court in London has suspended an order that froze $12bn (£6bn) of the assets of Venezuela's state oil firm, PDVSA, in a dispute with ExxonMobil. | The High Court in London has suspended an order that froze $12bn (£6bn) of the assets of Venezuela's state oil firm, PDVSA, in a dispute with ExxonMobil. |
| Exxon is seeking $12bn in compensation from PDVSA, after its interests were nationalised last year. | Exxon is seeking $12bn in compensation from PDVSA, after its interests were nationalised last year. |
| Venezuela has settled with other international oil firms, but says Exxon exaggerated the value of its assets. | Venezuela has settled with other international oil firms, but says Exxon exaggerated the value of its assets. |
| Venezuela's President Hugo Chavez has accused the US government of being involved in the dispute. | Venezuela's President Hugo Chavez has accused the US government of being involved in the dispute. |
| Presiding Judge Paul Walker said he would publish the reasons behind his judgement later in the day. | Presiding Judge Paul Walker said he would publish the reasons behind his judgement later in the day. |
| The assets were originally frozen pending arbitration on the value of Exxon's former holdings. | The assets were originally frozen pending arbitration on the value of Exxon's former holdings. |
| Venezuela's ambassador in the UK, Samuel Moncada, hailed the result as "the beginning of the end" of what he called Exxon's "campaign of harassment against PDVSA around the world". | |
| "The English judge rejected Exxon's intention to use an English court as an instrument of coercion against a Venezuelan company," he added. | |
| So far, there has been no comment from Exxon on the ruling. |