A British court order on Feb. 7 supposedly froze up to US$12 billion in assets belonging to Petroleos de Venezuela S.A. (PDVSA), Venezuela's state-owned oil company, in a case brought by oil giant ExxonMobil Corporation. The case stemmed from losses ExxonMobil alleged to have suffered when Venezuelan President Hugo Chavez nationalized his country's petroleum resources. Chavez's government rejected the court decision, calling it "judicial terrorism," and denied that PDVSA assets were frozen.
LADB. "Exxon Claims Us$12 Billion In PDVSA Assets In Lawsuit About Nationalized Oil Resources." (2008). http://digitalrepository.unm.edu/la_energy_notien/180