Honduras temporarily grabs Exxon, Chevron terminals

TEGUCIGALPA, Honduras (Reuters) - Honduras will take temporary control of foreign-owned oil storage terminals as part of a government import program meant to drive down fuel prices, President Manuel Zelaya said late on Saturday.

Zelaya ordered the move after failing to reach a deal with big oil companies Exxon Mobil (XOM.N: Quote, Profile , Research) and Chevron (CVX.N: Quote, Profile , Research), as well as local company DIPPSA, to rent the terminals.