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For some oil companies, Venezuela is hardly the worst option |
| Home | (The Associated Press) - CARACAS: Exxon Mobil and ConocoPhillips have decided the profits are not worth the risk of staying in Venezuela and are writing off multibillion-dollar investments in the country. But other major oil companies have accepted the increasingly tough terms posed by President Hugo Chávez's government because they face few appealing alternatives elsewhere. Terms are even tighter in Russia, they are barred from the Middle East, and Africa comes with its own troubles of violence and instability. |