Identifier
Created
Classification
Origin
07CARACAS1812
2007-09-13 14:48:00
CONFIDENTIAL//NOFORN
Embassy Caracas
Cable title:
EXXONMOBIL FILES FOR ARBITRATION
VZCZCXYZ0008 PP RUEHWEB DE RUEHCV #1812 2561448 ZNY CCCCC ZZH P 131448Z SEP 07 FM AMEMBASSY CARACAS TO RUEHC/SECSTATE WASHDC PRIORITY 9704 INFO RUEHAC/AMEMBASSY ASUNCION PRIORITY 0876 RUEHBO/AMEMBASSY BOGOTA PRIORITY 7503 RUEHBR/AMEMBASSY BRASILIA PRIORITY 5984 RUEHBU/AMEMBASSY BUENOS AIRES PRIORITY 1672 RUEHLP/AMEMBASSY LA PAZ SEP 2582 RUEHPE/AMEMBASSY LIMA PRIORITY 0859 RUEHSP/AMEMBASSY PORT OF SPAIN PRIORITY 3483 RUEHQT/AMEMBASSY QUITO PRIORITY 2674 RUEHSG/AMEMBASSY SANTIAGO PRIORITY 3998 RUEHDG/AMEMBASSY SANTO DOMINGO PRIORITY 0504 RUMIAAA/HQ USSOUTHCOM MIAMI FL PRIORITY RHEHNSC/NSC WASHDC PRIORITY RHEHAAA/WHITEHOUSE WASHDC PRIORITY RHEBAAA/DEPT OF ENERGY PRIORITY RUCPDOC/DEPT OF COMMERCE PRIORITY RUEATRS/DEPT OF TREASURY PRIORITY RUCNDT/USMISSION USUN NEW YORK PRIORITY 0919
C O N F I D E N T I A L CARACAS 001812
SIPDIS
SENSITIVE
SIPDIS
ENERGY FOR CDAY AND ALOCKWOOD
NSC FOR JCARDENAS AND JSHRIER
E.O. 12958: DECL: 9/13/2017
TAGS: EPET ENRG EINV ECON VE
SUBJECT: EXXONMOBIL FILES FOR ARBITRATION
REF: FLATT/DESK EMAIL - SEPTEMBER 12
Classified By: Economic Counselor Andrew N. Bowen for Reason 1.4 (D)
C O N F I D E N T I A L CARACAS 001812
SIPDIS
SENSITIVE
SIPDIS
ENERGY FOR CDAY AND ALOCKWOOD
NSC FOR JCARDENAS AND JSHRIER
E.O. 12958: DECL: 9/13/2017
TAGS: EPET ENRG EINV ECON VE
SUBJECT: EXXONMOBIL FILES FOR ARBITRATION
REF: FLATT/DESK EMAIL - SEPTEMBER 12
Classified By: Economic Counselor Andrew N. Bowen for Reason 1.4 (D)
1. (C) David Perez (strictly protect throughout),the
remaining ExxonMobil (XM) executive in Venezuela, met with
the Ambassador on September 12 (ref. A) to inform him that XM
filed for arbitration on September 6 with the International
Center for Settlement of Investment Disputes (ICSID). XM
filed an 8k with the SEC the afternoon of September 12, which
has since been made public. XM had four to five days to file
the 8k with the SEC following the filing for arbitration.
2. (C) The BRV was advised of the filing of the arbitration
claim on or around September 6 but has refrained from making
any public comments. Perez stated XM reached its decision to
file after senior XM officials met briefly with Venezuelan
Petroleum Corporation (CVP) President Del Pino three weeks
ago. It was clear at the meeting that there had been very
little progress in negotiations and that the sides were still
several billions of dollars apart.
3. (C) Perez stressed that the BRV and XM could still reach a
negotiated settlement. He closed the meeting by asking the
Ambassador to keep the information close hold.
DUDDY
SIPDIS
SENSITIVE
SIPDIS
ENERGY FOR CDAY AND ALOCKWOOD
NSC FOR JCARDENAS AND JSHRIER
E.O. 12958: DECL: 9/13/2017
TAGS: EPET ENRG EINV ECON VE
SUBJECT: EXXONMOBIL FILES FOR ARBITRATION
REF: FLATT/DESK EMAIL - SEPTEMBER 12
Classified By: Economic Counselor Andrew N. Bowen for Reason 1.4 (D)
1. (C) David Perez (strictly protect throughout),the
remaining ExxonMobil (XM) executive in Venezuela, met with
the Ambassador on September 12 (ref. A) to inform him that XM
filed for arbitration on September 6 with the International
Center for Settlement of Investment Disputes (ICSID). XM
filed an 8k with the SEC the afternoon of September 12, which
has since been made public. XM had four to five days to file
the 8k with the SEC following the filing for arbitration.
2. (C) The BRV was advised of the filing of the arbitration
claim on or around September 6 but has refrained from making
any public comments. Perez stated XM reached its decision to
file after senior XM officials met briefly with Venezuelan
Petroleum Corporation (CVP) President Del Pino three weeks
ago. It was clear at the meeting that there had been very
little progress in negotiations and that the sides were still
several billions of dollars apart.
3. (C) Perez stressed that the BRV and XM could still reach a
negotiated settlement. He closed the meeting by asking the
Ambassador to keep the information close hold.
DUDDY