Greece plans to take over Exxon-owned companies

Greece's socialist government plans to nationalize refining and petrochemical companies owned by Exxon Corporation, the minister of industry and energy, Anastasios Peponis, said Wednesday.

The planned takeovers are the first to be announced since the Panhellenic Socialist Movement of Andreas Papandreou was swept to power in elections in October.

Mr. Peponis said the nationalization of the Exxon operations should not be regarded as setting a precedent for other privately owned refineries.

Exxon is apparently not too upset about the state takeovers, since its contracts are scheduled to expire soon.

About these ads
Sponsored Content by LockerDome

We want to hear, did we miss an angle we should have covered? Should we come back to this topic? Or just give us a rating for this story. We want to hear from you.

Loading...

Loading...

Loading...

Save for later

Save
Cancel

Saved ( of items)

This item has been saved to read later from any device.
Access saved items through your user name at the top of the page.

View Saved Items

OK

Failed to save

You reached the limit of 20 saved items.
Please visit following link to manage you saved items.

View Saved Items

OK

Failed to save

You have already saved this item.

View Saved Items

OK