Venezuela: International Tribunal finds in favor of Exxon in expropriated assets

Posted on October 10, 2014 • Filed under: Business, Conflicts, Oil, Venezuela reported Venezuela must pay oil giant Exxon Mobil $1.6bn (£1bn) in compensation for expropriated assets, an international arbitration tribunal has decided. Exxon had claimed up to $16.6bn over the nationalisation of its Cerro Negro Project and other losses in 2007. Venezuela has not said whether it will appeal. But the foreign minister said the decision was “reasonable”. Read Article

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