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Venezuela wins an appeal on a $1.4 billion payment to Exxon Mobil Corp. in a World Bank arbitration panel. The panel overturns a 2014 judgment, relieving Venezuela from paying the compensation requested by Exxon Mobil for the nationalization of its Cerro Negro facilities under former President Hugo Chávez. The ruling reflects the ongoing disputes over nationalizations and control of key economic sectors, particularly in the oil industry, and highlights the complex dynamics of international investment disputes.
Saturday, 11 March, 2017