Exxon Requests Halt in Production

By  | 

Exxon Mobil is moving to temporarily halt production at a Venezuelan oil field. The company says that comes amid problems in getting the state oil company to transport crude being pumped there to market.

A spokesman for Irving, Texas-based Exxon Mobil said in an e-mail that the company was notified by Venezuela's state-owned oil company, Petroleos de Venezuela, that it would discontinue lifting crude oil from La Ceiba.

It was not immediately clear why the state oil company had decided to stop lifting oil from the site.

Exxon and Canadian oil and gas company Petro-Canada each hold a 50 percent stake in the field, but Exxon is the operator of the contract.

Venezuela is the world's fifth largest oil exporter and a main source of US oil imports.