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ICSID Nixes $1.4B Exxon Award For Venezuelan Oil Assets

By Chuck Stanley (March 10, 2017, 3:39 PM EST) -- An International Centre for Settlement of Investment Disputes panel on Thursday annulled $1.4 billion of a $1.6 billion award to Exxon Mobil Corp. stemming from the Venezuelan government's 2007 nationalization of energy projects operated by the U.S. company, finding the tribunal decision failed to apply the proper law in deciding the award....

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