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Venezuela ordered to pay Exxon $1.6 billion

2014-10-10 00:59:28| Chemicals - Topix.net

An international arbitration panel is ordering Venezuela's government to pay Exxon Mobil $1.6 billion for the nationalization of a major oil project in the South American nation. Exxon in a statement that the decision by the World Bank's investment dispute panel confirms that the government failed to provide fair compensation for the seized assets.

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