President Hugo Chavez talked about the recent dispute of the country he presides upon and ExxonMobil.

Just a few days ago, ExxonMobil, the multi-national American corporation and direct descendant of John D. Rockefeller's Standard Oil Company, announced on Feb. 7 that courts in United Kingdom and the United States had granted its requests to freeze more than $12 billion in assets of Venezuela's state oil company, Petroleos de Venezuela (PDVSA).

This move from Exxon comes after Venezuela’s President Hugo Chavez implemented numerous reforms and among them nationalized assets of international oil companies operating in the South American country Big Oil decided to strike back.

However, Chavez said on Saturday that he will continue his socialist revolution despite Exxon Mobil winning the above mentioned court orders.

Last year, Chavez seized two ExxonMobil projects worth several billion dollars.

Because of the state rulings, state oil company PDVSA , which has more than $90 billion in assets, and Chavez's main income source, can not sell certain assets or move some funds while the compensation case is reviewed.

During the meeting with farmers, Chavez called ExxonMobil a “multinational, imperialist company” that is trying to damage Venezuela’s flagship company.

"PDVSA will not sink. Venezuela will not sink. This revolution will not sink," he said.

Venezuela’s dollar-denominated bonds recorded the biggest drop in six months on Thursday due to the concerns that the Chavez government could face a prolonged legal battle with ExxonMobil. Such a battle would prevent the government from raising cash through the sale of refineries abroad.