Venezuela will pull out of a World Bank-affiliated arbitration panel and won’t accept any of its rulings, including a multi-billion claim for a nationalized oil project by Exxon Mobil Corp., President Hugo Chavez said.
Repsol YPF SA, the Spanish oil explorer seeking $10.5 billion from Argentina for seizing its assets, will line up behind companies from Exxon Mobil Corp. to Unisys Corp. yet to be repaid by the most-sued nation on earth.
In the midst of a summer heat wave, Australia is suffering a soft-drink shortage because of a disruption in supplies of the gas that gives soda its fizz. Schweppes Australia Pty. is already losing sales and Coca-Cola may be affected next.
Former executives from Cove Energy Plc are starting a new oil and gas exploration firm focused on Africa after selling the London-based company for $1.9 billion to Thailand’s PTT Exploration and Production Pcl earlier this year, people familiar with the group’s plans said.